er 8 Rogala Foods Inc. was formed in 2015 with the merger of Grouch Mayer and Tashamo Corporation. The company reported the following rounded amounts for the year ended January 3, 2016 (all amounts in millions): Debits Credits Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $1,15e s 31 18,600 Required: 1. Assume Rogaa uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry 2. Assume instead Rogala uses the aging of accounts receivable method and estimates that $83 of its Accounts Receivable will be required for the year, assuming no Bad Debt Expense has been recorded yet 3. Prepare the journal entry for unadjusted balance in Rogala's Allowance for Doubtful Accounts at January 3, 2016, was a debilt 4. If one of Rogala's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? uncollectible. Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Expense. balance of $23. Complete this question by entering your answers in the tabs below. e the adjusting journal entry required Assume Rogala uses 1/2 of 1 percent for the year, assuming no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round your answers of sales to estimate its Bad Debt Expense for the year. Prepar to the neorest whole number.) c Prev 1 of 7 Next> Assume Rogala uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry roquired g no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, seiect "No Journal Entry Required" in the first account field. Enter your answers in milions (i.e., 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) Journal entry worksheet Record the entry for bad debt expenses under the percentage of credit sales method. January 03, Bad Debt Exponse 93 2016 Prev 1 of 7 Next > ei. ter 8 uses the aging of uncollectible. Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round your answers to the nearest whole number.) Journal entry worksheet Record the entry for bad debt expenses under the aging of accounts receivable 03. Bad Debl 2016 Prev 10t 7Ell Next millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Record the adjusting entry for bad debts as of January 3, 2016 using the aging 106 03, 2016 106 Clear entry event, select "No Journal Entry Required" in the first account field. Enter your answers in s (i.e., 10,000,000 Journal entry worksheet A. Prev lof7 Next >
