Exercises os The ledger of Teal Mountain Inc, at the end of the current year shows Accounts Receivable $74,000; Credit Sales $810,000; and Sales Returns and Allowances $36,000 (a) If Teal Mountain uses the direct write-off method to account for uncollectible accounts, Journalize the adjusting entry at December 31, assuming Teal Mountain determines that Matisse's $750 balance is uncollectible. (b) 11 Allowance for Doubtful Accounts has a credit balance of $1,400 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 115 of accounts receivable of Allowance for Doubtful Accounts has a debit balance of $600 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 9 of accounts receivable Prepare yournal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Det Credit (a) Dec 31 (6) Dec 31 (c) Dec 31 Exercise 8-os The Ledger of Teal Mountain Inc. at the end of the current year shows Accounts Receivable $74,000; Credit Sales $10,000 and Sales Returns and Allowances $36,000 (a) I Teal Mountain uses the direct write-off method to account for uncollectible accounts, yunalize the adjusting entry at December 31, assuming Teal Mountain determines that Matisse's $750 balance is uncollectible (b) If Allowance for Deutic Accounts has a credit balance of $1,400 in the balance, journake the adjusting entry December 31, assuming bad debts are expected to be 11% of accounts receivable (c) Allowance for Dowful Accounts has a debit balance of $600 in the trial balance, journalize the adjusting entry December 31, naming bed debts are expected to be of counts receivable Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually Na That Account Titles and Explanation (a) Dec. 31 ) Dec 31 (c) Dec 31 LINE OF ATENTS