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 millions): 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 Receivable will be uncollectible. Prepare the adjusting journal entry required at December 29, 2018, for recording Bad Debt Expense. 3. Assume instead Henderson's uses the aging of accounts receivable method and estimates that $85 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. 4. If one of Henderson's customers declared bankruptcy, what journal entry would be used to write off its $15 balance? 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. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field. Enter your answers in millions (iie., 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. Notet Enter debits before credits Assume Instead Henderson uses the aging of accounts receivable method and estimates that $85 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at December 29, 2018, 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 miliions (1.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 method. Note: Enter debits before credits. Assume instead Henderson's uses the aging of accounts receivable method and estimates that $85 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, select "No Journal Entry Required" in the first account field, Enter your answers in millions (i.e., 10 , 0o0,000 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 receivable method and assuming the unadjusted balance in Allowance for Doubtful Accounts at December 29, 2018, was a debit balance of $25. Note: Enter debits befere 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 (I.e., 10,000,000 should be entered as 10).) Journal entry worksheet Record the write-off of a certain customer account totaling $15 which is not collectible due to bankruptcy deciared by the customer. Note: Enter debits before credis
