EASY LTD Unadjusted Trial Balance 30 November 2020 Debit $ Credit 100,000 175,000 25,000 50,000 80,000 28,800 200,000 Account Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Equipment Accumulated Depreciation Equipment Building Accumulated Depreciation - Building Accounts Payable Short-term Financial Debt Long-term Financial Debt Common Stock Sales Sales Returns and Allowances Sales Discounts 8,000 60,000 7.238 92,762 185,200 550,000 25.000 25,000 Cost of Goods Sold 200,000 Salary & Wage Expense Utility Expense Supplies Expense Total 60,000 30,000 12,000 957,000 $ 957.000 Transactions Easy Ltd. is a retailer following the perpetual inventory method. Assume that there are no credit transactions and all amounts are settled in cash. The following information for Easy Ltd. for the month of December 2020 are provided below: Unit Cost or Selling Price Date Description Quantity ($) December 1 Beginning inventory (as stated in trial balance) 500 December 10 Purchase 600 December 12 Purchase return 600 December 20 Sale 125 800 1.-3. Journalize each of the transactions by following FIFO cost flow assumption. 100 150 50 Customer Total Ci 4.-5. Easy LTD management authorizes a write-off of the $5,000 balance on December 21, 2020. After write-off, aging schedule for Easy LTD is presented below. Number of Days Past Due Not Yet Due 1-30 31-60 61-90 Over go 25.000 5.000 20,000 Cg 20,000 10,000 10,000 C3 30.000 30,000 Total 75.000 10,000 10,000 30,000 5,000 20,000 Estimated Percentage Uncollectible 1% 5% 10% 30% 75%