financial accounting

Problem 4 (30scores) mber 31, 2016, a company's records include the following Net Sales (all on credit) Accounts Receivable at December 31 Write-offs of Accounts Receivable during the year $750,000 225,000 7,100 Credit balance in Allowance for Doubtful Accounts at January 1, 2016 8500 Required: Part The company estimates bad debts as 1.3% of credit sales. Prepare the required adjusting entry to record Bad Debt Expense for the year. Part b. Assume instead that the company uses the aging of receivables method. Its aging analysis reveals that the estimate of uncollectible receivables is $11,250. Prepare the required adjusting entry to record Bad Debt Expense for the year. Partc. Assume instead that the company estimates that its Bad Debt Expense for the year is $8.250. Use a T-account to determine the adjusted balance in the Allowance for Doubtful Accounts