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Part 4 . Aty cod (December 31). Double y costes bad debts or maledit saraf 000 Donde content . On the follow March 10, Double Y decides that the $2,500 account of Chips Cois collect and we allema - On May 28, Clipe Cowspectedly pay the amount previously wit (1 mark) Required: Prepare the journal entries of Double Y Ca to record the transactions and events of December 31, Mach 10, and May 25 Part-1 Arcach calendar year and Fahad Blectric Com the percent of counts receivable method to estimate bad de los - On December 31, 2019, it has outstanden accounts receivable of $500,000, and it estimates that 14 will be collectibles Required: Prepare the adjusting entry to record bad debts expense for your 2019 under the assumption that the Allowance for Doubtful Acces a 31. tblere adjustment Part- There are two methods of accounting for bad debts including direct write-off method and allowance method. Required: Write down an advantage of using the allowance method of accounting for bad debts (1 mark) For the toolbar, press ALT+F10 ( Por ALT+FN+F10 (Mac). T. Av Q5 14px Arial Brus Paragraph > 2 X B 6 points Part At year-end (December 31). Double-Y co estimates its bad debts as 19 of its omal credit sales of $800,000. Double-Y records its bad debts expense for that estimate. (1 marks) . On the following March 10, Double Y decides that the $2.500 account of Clips Co is uncollectible nod writes it off as a bad debt. (1 mark) . On May 25, Clips Co unexpectedly pays the amount previously written off (1 mark) Required: Prepare the journal entries of Double-Y Co to record these transactions and events of December 31, March 10, and May 25, Part-B At each calendar year-end, Fabad Electric Co. uses the percent of accounts receivable method to estimate bad debts. . On December 31, 2019, it has outstanding accounts receivable of $500,000, and it estimates that 1.5% will be uncollectible. (1 marks) Required: Prepare the adjusting entry to record bad debts expense for year 2019 under the assumption that the Allowance for Doubtful Accounts has a $3,000 debit balance before the adjustment. Part- There are two methods of accounting for bad debts including direct write-off method and allowance method. Required