Eleven questions for chapter 10.

s.Assume thu CUMULATIVE REVIEW PROBLEM: CHAPTER 10 The purpose of this problem is to procide an opportunity to reciec both neaw concepts in the current chapter and major concepts in previous chapters. This cumulative recieo should assist you in integrating accounting concepts and preparing for exans. n January L months o REQUIRED: Answer each of the following eleven questions Us e the following data for the next four questions On December 31, 2011, the unadjusted trial balance of Alex Ine., included the following accounts: Credit $900,000 Debit Sales (90% represent credit sales) Accounts Receivable Allowance for Doubtful Accounts $300,000 300 I. Assume Alex estimates bad debts expense as 1% ofcredit sales. Prepare the adjusting entry for con ut for the bad debts on December 31, 201 D of #1, Assume Alex estimates bad debts expense as 3% of yearend Prepare the adjusting entry for bad debts on December 31, 2011. gross accounts on your answer in #2. Assunne Alex estimates bad debts expense counts receivable. Ater the adjusting entry, the net realizable value of Aler's ecevable in the December 31, 2011 balance sheet is: s. as 3% of year-end gross f conta 3. Based on your