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Hi Each blank is its own answer, please let me know if anyhting is missing or needed although this is all the informtion i was

Hi Each blank is its own answer, please let me know if anyhting is missing or needed although this is all the informtion i was provided

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Question 14 (9 points) Pitt Inc had the following information on their unadjusted trial balance; Accounts Receivable $200,000 (DR). Allowance for doubtful accounts $3000 (CR), Sale on credit $700,000 (CR), Sales returns and allowances $22,000 (DR) Note: All numerical answers should be entered without dollar signs, spaces or commas. For example, $910,000 should be typed as: 910000. A negative number, such as a loss should be entered in brackets. For example, a loss of $910,000 should be entered as (910000) Blank #1 By how much would the debit be to the bad debt expense assuming that doubtful accounts are estimated using 5% of gross accounts receivable Blank #2 By how much would the debit be to the bad debt expense assuming that doubtful accounts are estimated using 1% of net sales Blank #3 Before any adjustment, what is the amount of the net accounts receivable? Blank #4 Before any adjustment, what is the amount of the net sales? Blank #5 Assuming the company estimates doubtful accounts using 5% of accounts receivable, After adjustment what is the amount of the net accounts receivable? Blank #6 Assuming the company estimates doubtful accounts using 1% of net sales, after adjustment, what is the amount of net accounts receivable? Blank #7 After adjustment what is the amount of net sales? Blank #8 If instead, the amount in the allowance for doubtful accounts had a DR balance (instead of a CR balance), by how much would the debit be to the bad debt expense assuming that doubtful accounts are estimated using 5% of gross accounts receivable Blank #9 If instead, the amount in the allowance for doubtful accounts had a DR balance (instead of a CR balance), 1% of net sales by how much would the debit be to the bad debt expense assuming that the doubtful accounts are estimated using DELL FS

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