Henderson Incorporated was formed in 2015 with the merger of B\&H Corporation and PWW Foods Incorporated. The company reported the following rounded amounts for the year ended December 29, 2018 (all amounts in mililions): Required: 1. Assume Henderson uses 3/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. 2. Assume instead Henderson uses the aging of accounts receivable method and estimates that $85 of its Accounts Recelvable will be uncollectible. Prepare the odjusting Journal entry required at December 29, 2018, for recording Bad Debt Expense. 3. Assume instead Henderson's uses the aging of accounts recelvable method and estimates that $85 of its Accounts Recelvable will be uncollectible. Prepare the adjusting journal entry required at December 29, 2018, for recording Bad Debt Expense assuming Henderson's unadjusted balance in Allowance for Doubtful Accounts at December 29, 2018, was a debit balance of $25. 4. If one of Henderson's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? Complete this question by entering your answers in the tabs below. Assume lienderson usess 3/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting loumal entry required for the yeat, assuming no Bad Debt Expense has been recorded yet. (II no entry is reagulred for a transactionge jowent, selece two Assume Henderson uses 3/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting Journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. (tf no entry is required for a transaction/event, select "No Journal Entry Roquired" 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 percentage of credit sales method. Buter. Lriter debets bedore crindils. Assume instead Henderson uses the aging of accounts recelvable method and estimates that 585 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at December 29,2018, for recording Bad Debt Expense. (tf no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field. Enter your answers in millions (h.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 recelvable method. Buste finter Getuits betore credits. Assume instead Henderson's uses the aging of accounts receivable method and estimates that 585 of its Accounts Receivable will be uncollectible. Prepare the adjusting Journal entry required at December 29, 2018, for recording Bad Debt Expense assuming Henderson's unadjusted balance in Allowance for Doubtful Accounts at December 29, 2018, was a debit balance of $25. (If no entry is required for a transaction/event, siefect "No Joumal Entry Required" in the first account field, Enter your answers in millions (i.e, 10,000,000 should be entered as 10).) Journal entry worksheet Record the adjusting entry for bad debts as of December 29, 2018 using the aging of accounts receivable method recelvable method and assuming the unadfusted balance in Allowance for Doubtful Accounts at December 29, 2018, was a debit balance of $25. Wote: Enter debits beilore credits. If one of Henderson's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (tie., Journal entry worksheet Record the write-off of a certain customer account totaling 515 which is not collectible due to bankruptcy declared by the customer. Note: Enter debits before aredits
