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I just need help with d) Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Debit Credit Accounts receivable

I just need help with d)
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Selected unadjusted account balances at December 31, 2020, are shown below for Demron Servicing. Account Debit Credit Accounts receivable $77,000 Allowance for doubtful accounts $1,240 Sales (all on credit) 543,000 Sales discounts 15,000 Required: a. Demron estimates that 1.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2020, to estimate uncollectible receivables. Answer is complete and correct. No Date General Journal Debit 1 Credit December 31, 202 Bad debt expense Allowance for doubtful accounts 7.920 7,920 d. Show how accounts receivable would appear on the December 31, 2021, balance sheet. Answer is not complete. Partial Balance sheet Assets Current assets Accounts receivable Less: Allowance for doubtful accounts b. During 2021, credit sales were $704,000 (cost of sales $461,590); sales discounts of $19.000 were taken when accounts receivable of $696.900 were collected and accounts written off during the year totalled $15,600. Prepare the entries for these transactions, Answer is complete and correct. General Journal No Year Credit Debit 704,000 1 2021 Accounts receivable Sales 704,000 2 2021 461,590 > Cost of goods sold Merchandise inventory 461,590 > 3 2021 Sales discounts Cash Accounts receivable 19,000 677,900 696,900 4 2021 15,600 Allowance for doubtful accounts Accounts receivable > 15,600 c. Record the adjusting entry required on December 31, 2021 to estimate uncollectible receivables, assuming it is based on 1.5% of net credit sales No Date Answer is complete and correct. General Journal December 31, 202 Bad debt expense Allowance for doubtful accounts Credit Debit 10,275 10,275

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