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Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $895,000 and sales for the year total $10,150,000. a. The allowance account before adjustment has a credit balance of $12,100. Bad debt expense is estimated at 34 of 1% of sales. b. The allowance account before adjustment has a credit balance of $12,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $38,700 C. The allowance account before adjustment has a debit balance of $6,400. Bad debt expense is estimated at 1/2 of 196 of sales. d. The allowance account before adjustment has a debit balance of $6,400. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $53,100 Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above a. b. C. d. Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,370 from Keith MacPhearson and wrote off the remainder owed of $5,830 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $5,830 cash in full payment. Reinstate Collection Accounts Receivable-Keith MacPhearson Allowance for Doubtful Accounts Bad Debt Expense Cash Sales Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below. 1. When preparing a bank reconciliation, outstanding checks are a. deducted from the bank balance b. added to the bank balance c. deducted from the company's cash balance d. added to the company's cash balance 2. When preparing a bank reconciliation, a not sufficient funds (NSF) check is a. deducted from the bank balance b. added to the bank balance c. deducted from the company's cash balance d. added to the company's cash balance Click to watch the Tell Me More Learning Objective 6 video and then answer the questions below. 1. A petty cash fund of $500 is established on October 1. The entry to record the transaction is a. debit Petty Cash, credit Cash. b. debit Cash, credit Petty Cash. c. debit Petty Cash Expense, credit Cash. d. debit Retained Earnings, credit Petty Cash 2. Replenishing the petty cash fund requires a. a debit to Cash. b. a credit to Cash. c. a debit to Petty Cash. d. no entry dropdowrn