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FULL SCREEN PRINTER VERSION BAS Question 16 The account balances of Sunland Company at December 31, 2021, the end of the current year, show Accounts
FULL SCREEN PRINTER VERSION BAS Question 16 The account balances of Sunland Company at December 31, 2021, the end of the current year, show Accounts Receivable $158,400, Allowance for Doubtful Accounts $1,900 (credit); Sales $1,255,600; Sales Returns and Allowances $50,000; and Sales Discounts $17,600 (a) Your answer is correct Record the adjusting entry at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) 1.5% of net sales. (Credit account titles are automa indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) (b) Your answer is correct. Calculate the carrying amount of the accounts receivable for each approach to estimating uncollectible accounts in part (a) above. (1) Carrying amount $ 142560 (2) Carrying amount 138680 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Assume instead that the Allowance for bott Accounts had a debit balance of $2,300 at December 31, 2021. What is bed debe expense for 2021, and what is the carrying amount of the accounts receivable at December 31, 2021, assuming bad debts are estimated to be (1) 10% of accounts receivable, and (2) L.5% of net sales? (1) (2) Bad debts expenses Carrying amount $ were
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