I need help with the following accounting questions please.

1. a. b. (3 points) Heather uses the allowance method for bad debts. During her first year of operations, Heather recorded (1) $90,000 of estimated bad debts expense, (2) $18,000 of write-offs, and (3) $2,500 of subsequent collections of receivables previously written off. Prepare the entries for the three events that Heather recorded. As of year-end, what was the balance in Heather's allowance for doubtful accounts? 2. (2 points) On 12-31-16 Ashley entered into an agreement that required Ashley to pay a supplier $150 every quarter (every 3 months) starting 03-31-17. Ashley's last quarterly payment will be 12-31-25. Assume the market rate of interest for Ashley is 4%. As of 12-31-16 what was the present value of Ashley's obligation? 3. (4 points) Sonja's 12-31-14 unadjusted trial balance shows accounts receivable of $145,000 and an allowance for doubtful accounts of $6,000, credit balance. During 2014, Sonja wrote off $25,000 of receivables. During 2014, Sonja had $3,000 of subsequent collections of receivables previously written off. Sonja only records AJEs once each year as of year-end 12-31. What was the balance in Sonja's allowance for doubtful accounts as of 01-01-14? If Sonja estimates 10% of her ARs will be uncollectible, prepare the AJE she should make to record bad debt expense for 2014. After making the AJE in part (b), what will be the net realizable value of Sonja's receivables as of 12-31-14? After making the AJE in part (b), what will be Sonja's 2014 bad debt expense? a. b. c. d. 4. (1 point) At the close of its first year of operations, December 31, 2017, the net realizable value of F's ARs was $1,645,000. During 2017, F recorded bad debt expenses of $250,000 and wrote off, as uncollectible, $120,000 of ARs. On the basis of this information, what should F report on its balance sheet at December 31, 2017 as gross accounts receivable? 5. (2 points) Sonja's accounts receivable balance as of 12-31-16 was $875,000. Sonja's 2016 credit sales totaled $8,100,000. Sonja's allowance for doubtful accounts per the 12-31-16 unadjusted trial balance was $64,000. During 2016, Sonja wrote off $112,000 of receivables. During 2016, Sonja did NOT have any subsequent collections of receivables previously written off. Sonja only records AJEs once each year as of year-end 12-31. On the basis of the above information, what was the balance in Sonja's allowance for doubtful accounts as of 01-01-16? If Sonja estimates 12% of her outstanding receivables will be uncollectible, prepare the AJE she should make to record her bad debt expense for 2016. a. b. 6. (1 point) G has accounts receivable of $750,000 as of December 31 and sales on credit during the year of $6,000,000. On its unadjusted trial balance, G has a debit balance of $1,500 in its allowance for doubtful accounts. G estimates 4% of its receivables will be uncollectible. Prepare the AJE G should make to adjust its allowance account and record bad debt expense. 7. (2 points) Ace only prepares AJEs once each year as of 12-31. Ace has: accounts receivable totaling $6,200,000 as of 12-31 an allowance for doubtful accounts of $305,000 as of 01-01 AR write-offs of $267,000 during the year credit sales during the year of $71 million. If Ace estimates 5% of its receivables will be uncollectible, prepare the AJE Ace should record for bad debt expense. 8. (3 points) The following information pertains to R: Gross accounts receivable balance as of 12-31-14 was $915,000 Allowance for doubtful accounts balance as of 12-31-14 was $65,000 Total sales during 2015 (all sales were on a credit basis) were $3,455,000 AR write-offs during 2015 were $49,000 R's 12-31-15 AR aging analysis indicates a required balance in the allowance for doubtful accounts of $71,000. The NRV of R's receivables as of 12-31-15 was $900,000. On the basis of the above, how much cash did R collect from its ARs during 2015? 9. (2 points) Lucy factored $950,000 of accounts receivable with Ethel on a without recourse basis on May 1. Ethel assessed a finance charge of 2% of the total ARs factored. Ethel retained an amount equal to 4% of the total ARs factored to cover sales returns. During May and June, customers returned merchandise to Lucy on $34,000 of credit sales. All of these returns related to receivables from the $950,000 pool of ARs sold. After taking the returns into consideration, Ethel collected $908,000 of the factored ARs. On June 30, Lucy and Ethel \"settled up\" meaning Lucy and Ethel paid each other any cash that was due the other. (a) Prepare the entry Lucy should make on May 1. (b) Prepare the entry Lucy should make on June 30. 10. (3 points) Lucy factored $1,250,000 of accounts receivable with Ethel on a with recourse basis on May 1. (Assume the transaction meets the criteria to be classified as a sale.) Ethel assessed a finance charge of $20,000. Ethel retained an amount equal to 3% of the total ARs factored to cover sales returns. Lucy estimated her recourse liability to be $50,000. During May and June, customers returned merchandise to Lucy on $40,000 of credit sales. All of the returns related to receivables from the $1,250,000 pool of ARs sold. After taking the returns into consideration, Ethel collected $1,172,000 of the factored receivables. On June 30, Lucy and Ethel \"settled up\" meaning Lucy and Ethel paid each other any cash that was due to the other. (a) Prepare the entry Lucy should make on May 1. (b) Prepare the entry Lucy should make on June 30. 11. (3 points) On December 31, 2012, J sold some inventory to T. T was short of cash and J agreed to accept a $400,000, zerointerest bearing note receivable. J will collect the note principle in full on December 31, 2014. Under normal circumstances, J earns 5% on its funds. The cost of the inventory sold was $175,000. Prepare the entries J should make on 12-31-12, 12-3113, and 12-31-14. 12. (5 points) On 12-31-14, Brook rendered services to Arden. Brook accepted $40,000 down and agreed to accept payments from Arden as follows: $25,000 on 12-31-15 $40,000 on 12-31-16 Assume a market interest rate of 8%. Prepare the entries Brook should make on 12-31-14, 12-31-15, and 12-31-16. 13. (3 points) On December 31, 2012, M sold some inventory to T in exchange for a $1,000,000, 5% note receivable. M will collect the note principal in full on December 31, 2015. Interest will be collected every December 31 starting December 31, 2013. The market rate of interest at the time of the sale was 4%. The cost of the inventory sold was $400,000. Prepare the entries M should make on 12-31-12, 12-31-13, 12-31-14, and 12-31-15. 14. (2 points) The petty cash fund of G's Cleaning Service Company contains the following: An invoice (voucher) for a printer cartridge for the printer in G's sales office - $23.96. An I.O.U. from Kim Hester, an employee, for a cash advance - $50.00. A receipt from DePalma's Italian Restaurant for one of G's business lunches - $77.50. Coins and currency - $71.34. G's petty cash account per the general ledger is $225.00. Prepare the entry to record reimbursement of G's petty cash fund. 15. (1 point) In preparing its August 31, 2017 bank reconciliation, Bing has available the following information: Balance per bank statement, 8/31/17 $25,650 Deposit in transit, 8/31/17 3,900 Return of customer's check for insufficient funds, 8/30/17 600 Outstanding checks, 8/31/17 2,750 Bank service charges for August 100 As of August 31, 2017, what is Bing's correct cash balance