How do you journalize the following?
2. After 6 months, the Richard Ellis account was written off as uncollectible. Journalize this transaction assuming the Direct Write-off method is used. Account Debit Credit 3. Five Months later, Richard Ellis paid $500 to settle his account. Journalize this event assuming the Direct Write-off method is used. Account Debit Credit ! 4. Beta Co, estimates its uncollectible A/R based on an analysis of receivables. Estimated uncollectibles at year end are $6,288. The Allowance for Doubtful Accounts currently has a $210 debit balance. a) Prepare the year-end adjusting entry under the Allowance method. Account Debit Credit b) Prepare the write-off of a $1,000 account using the Allowance method Account Debit Credit c) 6 Months later, the $1,000 was paid. Record using the Allowance method Account Debit Credit 9 SITT TT 5. June 1: Sold a $2,000 big-screen TV to a customer. The customer was asked to sign a 120-day, 6 percent note. Journalize this transaction Date Account Debit Credit June 1st TV 2,000 Notes Payable 2,000 6. Sept. 29: Received payment on the $2,000, 120-day, 6% note from #5 above. Journalize this transaction Date Account Debit Credit Cash 2,040 Notes Recievable 2000 Interest Revenue 7. Oct. 1: Granted a 60-day extension to Baker, who owed $1,000 on account. Baker signed a 60-day, 15% note for the amount owed. Journalize this event Date Debit Credit Account 8. Nov. 30: Received payment on the $1,000, 60-day, 15% note from Baker. Date Account Debit Credit 9. Acme Inc. had the following data for the years ending 12/31/19 and 12/31/18: 2019 2018 Sales 4,284,000 3,040,000 Acct. Rec. Beginning 550,000 400,000 Acct. Rec. Ending 640,000 550,000 a) Determine Accounts Receivable Turnover for 2019 and 2018 4284000/595000= 7.2% 3040000/475000= 64% b) Determine Day's Sales in Receivables for 2019 and 2018 (round to 1 decimal place) 2019 2018 595000/(4284000/365) = 50.7 days 475000/(3040000/365)= 57.0 days c) Evaluate the trend shown by these metrics