I need help with Systems Understandings Aid 9th Edition solutions of all the listed below.

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Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions. Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other control procedures, (c) accounting entries, and (d) filing. Also, remember from the requirements that some of the following events require the preparation or modification of systems documents and some do not. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. internal Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 for deposit made December 14 18 Yes KRO Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9 File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes pED Description Basketball pole pad Basketball bag Portable inflation pump Trainer's first aid kit Units 120 80 30 75 1285 Colgrove Ave., Pierre, SD 57501 Interstate Motor Freight Collect (i.e., paid by Waren Sports Supply) None Vendor Address Freight carrier Freight charges Allowances Follow flowchart on page 22 Use purchase order No. 325 (Doc. No. 16) as a guide Use the price list (Doc. No. 3) No Receiving or recording occurs at this point for this transaction Tear document apart and file, following the flowchart guidance December Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. 18 Yes SCRE Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply," See flowchart, page 21, for recording and depositing Detach the bottom portion of the check and file in the Shipping/ Banking file tab File the note in the Shipping/Banking file tab. Received customer purchase order No. 37225 (Doc. No. 4) in the mail from the University of Southern lowa (USI), approved their credit and shipped the goods. All good ordered were shipped, except only 58 shoulder pad sets were available for 19 Yes SCR (8 shipment. Allied Trucking: Carrier number 2154 FOB shipping point: Billed to buyer (i.e. paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 lbs. 3 cartons/goal and rim sets @ 40 lbs./carton 5 cartons/backboards@ 150 lbs./carton 7 cartons/shoulder pad sets @ 25 lbs./carton 10 cartons/football helmets @ 16 lbs./carton Carrier&number: Freight charges: Route: Truck & driver: Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35 -36 of the Reference book. Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment 20 Yes SCRE copy mailed to EWU. Follow the flowchart steps on page 20. December 20 No Increased employee pay rates, and employees changed their federal income tax withholding amounts, both effective December 16. There were no changes in filing status or withholding allowances. New Federal Income Tax New Pay Rate Withholding Amt $393.00 $222.00 $72.00 Ray Kramer $3,550.00 semimonthly $22.00 per hour $18.00 per hour Jim Adams Nancy Ford No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. 22 Received merchandise from Velocity Sporting Goods as listed on purch. order No. 328 All merchandise listed on the PO was delivered in good condition and in the quantities ordered, except that only 103 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the inventory warehouse. Yes PODO Freight carrier: Freight bill: PcD Interstate Motor Freight No. 26425 (Doc. No. 19), received with shipment Remember to follow the flowchart on page 22. You can't record a purchase yet because the invoice hasn't been received. Received check No. 28564 (Doc. No. 8) from Branch College for payment in full for 22 Yes charge invoice No. 730, and deposited the check Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. 22 No Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. 26 Received all the goods that Waren authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. Yes Process and record the sales return now. Received check No. 49326 (Doc. No. 8) for $10,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge invoice No. 729, and deposited the check 26 Yes Do not finalize a deposit slip until you deternmine whether there are other cash receipts on the same day. 3 EO December Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. 29 Yes PCD 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. Yes Purchase orders are not issued for services that Waren purchases MONTH-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month-end requirement for this project is: After you have recorded all the transactions, go to page 12 of the Prepare a monthly statement ((Doc. No. 15) for Eastern Wisconsin University Monthly Statement- Yes After completing all the month-end procedures, go to page 14 of the YEAR-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory- A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $194,327.00 No Bad Debt Expense- The expense for bad debts is estimated at the end of the year as No one-quarter of one percent ( 0.0025) of net sales Marketable Securities- At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. Part I (50 points) Tues, Sept 10 at beg of class Due: From SUA IFL: Copies of the following general ledger accounts: 10100 Cash 10200-Accounts Receivable 10300-Allow. For Doubtful Accts 30100-Sales 30200-Sales Returns & Allowances 30300-Sales Discounts Taken From SUA Journals: Copies of the following journals: Sales Journal Cash Receipts Journal General Jounal Copy of monthly statement (from month-end 7). Printout of accounts receivable aged trial balance (from year-end 6). This needs to be prepared in Excel. Use Figure 3-8 on Reference book page 45 as your template. Part II (50 points) Due: Tues, Sept 17 at beg of class From SUA IFL: Copies of the following general ledger accounts: 10100 Cash 10800 Fixed Assets 20100 Accounts Payable 30500 Purchases 30600 Purchases Returns & Allow 30700 Purchases Discounts Taken 30800 Freight-In 40100 Rent 40200 Advertising Expense 40300 Office Supplies Expense 41000 Other Operating Expense From SUA Journals: Copies of the following journals: Purchases Journal Cash Disbursements Journal General Journal Printout of accounts payable trial balance (from year-end 6). This needs to be prepared in Excel. Use Figure 4-5 on Reference book page 61 as your template. Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions. Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other control procedures, (c) accounting entries, and (d) filing. Also, remember from the requirements that some of the following events require the preparation or modification of systems documents and some do not. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. internal Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 for deposit made December 14 18 Yes KRO Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9 File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes pED Description Basketball pole pad Basketball bag Portable inflation pump Trainer's first aid kit Units 120 80 30 75 1285 Colgrove Ave., Pierre, SD 57501 Interstate Motor Freight Collect (i.e., paid by Waren Sports Supply) None Vendor Address Freight carrier Freight charges Allowances Follow flowchart on page 22 Use purchase order No. 325 (Doc. No. 16) as a guide Use the price list (Doc. No. 3) No Receiving or recording occurs at this point for this transaction Tear document apart and file, following the flowchart guidance December Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. 18 Yes SCRE Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply," See flowchart, page 21, for recording and depositing Detach the bottom portion of the check and file in the Shipping/ Banking file tab File the note in the Shipping/Banking file tab. Received customer purchase order No. 37225 (Doc. No. 4) in the mail from the University of Southern lowa (USI), approved their credit and shipped the goods. All good ordered were shipped, except only 58 shoulder pad sets were available for 19 Yes SCR (8 shipment. Allied Trucking: Carrier number 2154 FOB shipping point: Billed to buyer (i.e. paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 lbs. 3 cartons/goal and rim sets @ 40 lbs./carton 5 cartons/backboards@ 150 lbs./carton 7 cartons/shoulder pad sets @ 25 lbs./carton 10 cartons/football helmets @ 16 lbs./carton Carrier&number: Freight charges: Route: Truck & driver: Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35 -36 of the Reference book. Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment 20 Yes SCRE copy mailed to EWU. Follow the flowchart steps on page 20. December Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. 29 Yes PCD 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. Yes Purchase orders are not issued for services that Waren purchases MONTH-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month-end requirement for this project is: After you have recorded all the transactions, go to page 12 of the Prepare a monthly statement ((Doc. No. 15) for Eastern Wisconsin University Monthly Statement- Yes After completing all the month-end procedures, go to page 14 of the YEAR-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory- A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $194,327.00 No Bad Debt Expense- The expense for bad debts is estimated at the end of the year as No one-quarter of one percent ( 0.0025) of net sales Marketable Securities- At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions. Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other control procedures, (c) accounting entries, and (d) filing. Also, remember from the requirements that some of the following events require the preparation or modification of systems documents and some do not. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. internal Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 for deposit made December 14 18 Yes KRO Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9 File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes pED Description Basketball pole pad Basketball bag Portable inflation pump Trainer's first aid kit Units 120 80 30 75 1285 Colgrove Ave., Pierre, SD 57501 Interstate Motor Freight Collect (i.e., paid by Waren Sports Supply) None Vendor Address Freight carrier Freight charges Allowances Follow flowchart on page 22 Use purchase order No. 325 (Doc. No. 16) as a guide Use the price list (Doc. No. 3) No Receiving or recording occurs at this point for this transaction Tear document apart and file, following the flowchart guidance December Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. 18 Yes SCRE Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply," See flowchart, page 21, for recording and depositing Detach the bottom portion of the check and file in the Shipping/ Banking file tab File the note in the Shipping/Banking file tab. Received customer purchase order No. 37225 (Doc. No. 4) in the mail from the University of Southern lowa (USI), approved their credit and shipped the goods. All good ordered were shipped, except only 58 shoulder pad sets were available for 19 Yes SCR (8 shipment. Allied Trucking: Carrier number 2154 FOB shipping point: Billed to buyer (i.e. paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 lbs. 3 cartons/goal and rim sets @ 40 lbs./carton 5 cartons/backboards@ 150 lbs./carton 7 cartons/shoulder pad sets @ 25 lbs./carton 10 cartons/football helmets @ 16 lbs./carton Carrier&number: Freight charges: Route: Truck & driver: Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35 -36 of the Reference book. Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment 20 Yes SCRE copy mailed to EWU. Follow the flowchart steps on page 20. December 20 No Increased employee pay rates, and employees changed their federal income tax withholding amounts, both effective December 16. There were no changes in filing status or withholding allowances. New Federal Income Tax New Pay Rate Withholding Amt $393.00 $222.00 $72.00 Ray Kramer $3,550.00 semimonthly $22.00 per hour $18.00 per hour Jim Adams Nancy Ford No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. 22 Received merchandise from Velocity Sporting Goods as listed on purch. order No. 328 All merchandise listed on the PO was delivered in good condition and in the quantities ordered, except that only 103 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the inventory warehouse. Yes PODO Freight carrier: Freight bill: PcD Interstate Motor Freight No. 26425 (Doc. No. 19), received with shipment Remember to follow the flowchart on page 22. You can't record a purchase yet because the invoice hasn't been received. Received check No. 28564 (Doc. No. 8) from Branch College for payment in full for 22 Yes charge invoice No. 730, and deposited the check Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. 22 No Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. 26 Received all the goods that Waren authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. Yes Process and record the sales return now. Received check No. 49326 (Doc. No. 8) for $10,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge invoice No. 729, and deposited the check 26 Yes Do not finalize a deposit slip until you deternmine whether there are other cash receipts on the same day. 3 EO December Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. 29 Yes PCD 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. Yes Purchase orders are not issued for services that Waren purchases MONTH-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month-end requirement for this project is: After you have recorded all the transactions, go to page 12 of the Prepare a monthly statement ((Doc. No. 15) for Eastern Wisconsin University Monthly Statement- Yes After completing all the month-end procedures, go to page 14 of the YEAR-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory- A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $194,327.00 No Bad Debt Expense- The expense for bad debts is estimated at the end of the year as No one-quarter of one percent ( 0.0025) of net sales Marketable Securities- At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. Part I (50 points) Tues, Sept 10 at beg of class Due: From SUA IFL: Copies of the following general ledger accounts: 10100 Cash 10200-Accounts Receivable 10300-Allow. For Doubtful Accts 30100-Sales 30200-Sales Returns & Allowances 30300-Sales Discounts Taken From SUA Journals: Copies of the following journals: Sales Journal Cash Receipts Journal General Jounal Copy of monthly statement (from month-end 7). Printout of accounts receivable aged trial balance (from year-end 6). This needs to be prepared in Excel. Use Figure 3-8 on Reference book page 45 as your template. Part II (50 points) Due: Tues, Sept 17 at beg of class From SUA IFL: Copies of the following general ledger accounts: 10100 Cash 10800 Fixed Assets 20100 Accounts Payable 30500 Purchases 30600 Purchases Returns & Allow 30700 Purchases Discounts Taken 30800 Freight-In 40100 Rent 40200 Advertising Expense 40300 Office Supplies Expense 41000 Other Operating Expense From SUA Journals: Copies of the following journals: Purchases Journal Cash Disbursements Journal General Journal Printout of accounts payable trial balance (from year-end 6). This needs to be prepared in Excel. Use Figure 4-5 on Reference book page 61 as your template. Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions. Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other control procedures, (c) accounting entries, and (d) filing. Also, remember from the requirements that some of the following events require the preparation or modification of systems documents and some do not. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. internal Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 for deposit made December 14 18 Yes KRO Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9 File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes pED Description Basketball pole pad Basketball bag Portable inflation pump Trainer's first aid kit Units 120 80 30 75 1285 Colgrove Ave., Pierre, SD 57501 Interstate Motor Freight Collect (i.e., paid by Waren Sports Supply) None Vendor Address Freight carrier Freight charges Allowances Follow flowchart on page 22 Use purchase order No. 325 (Doc. No. 16) as a guide Use the price list (Doc. No. 3) No Receiving or recording occurs at this point for this transaction Tear document apart and file, following the flowchart guidance December Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. 18 Yes SCRE Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply," See flowchart, page 21, for recording and depositing Detach the bottom portion of the check and file in the Shipping/ Banking file tab File the note in the Shipping/Banking file tab. Received customer purchase order No. 37225 (Doc. No. 4) in the mail from the University of Southern lowa (USI), approved their credit and shipped the goods. All good ordered were shipped, except only 58 shoulder pad sets were available for 19 Yes SCR (8 shipment. Allied Trucking: Carrier number 2154 FOB shipping point: Billed to buyer (i.e. paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 lbs. 3 cartons/goal and rim sets @ 40 lbs./carton 5 cartons/backboards@ 150 lbs./carton 7 cartons/shoulder pad sets @ 25 lbs./carton 10 cartons/football helmets @ 16 lbs./carton Carrier&number: Freight charges: Route: Truck & driver: Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35 -36 of the Reference book. Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment 20 Yes SCRE copy mailed to EWU. Follow the flowchart steps on page 20. December Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. 29 Yes PCD 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. Yes Purchase orders are not issued for services that Waren purchases MONTH-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month-end requirement for this project is: After you have recorded all the transactions, go to page 12 of the Prepare a monthly statement ((Doc. No. 15) for Eastern Wisconsin University Monthly Statement- Yes After completing all the month-end procedures, go to page 14 of the YEAR-END PROCEDURES Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory- A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $194,327.00 No Bad Debt Expense- The expense for bad debts is estimated at the end of the year as No one-quarter of one percent ( 0.0025) of net sales Marketable Securities- At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts