Information related to Jocary Corp. for 2021 is summarized below: Total credit sales Accounts receivable on December 31, 2021 Bad Debts written off during 2021. Instructions: a. b. C. d. e. $1,000,000 300,000 16,000 What amount of BAD DEBTS EXPENSE will Jocary Corp report if it uses the DIRECT WRITE-OFF METHOD of accounting for bad debts? Assume that Jocary Corp. decides to estimate its bad debts expense to be 1% of credit sales. What amount of BAD DEBTS EXPENSE will Jocary Corp record if the Allowance for Bad Debts Account has a credit balance of $1,800, before the adjustment as of December 31, 2021? Assume the same fact in (b), except that there is a $1,200 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record? Assume that Jocary Corp decides to estimate its bad debts expense based on 5% of the accounts receivable balance as of December 31, 2021. What amount of BAD DEBTS EXPENSE will Jocary Corp. record if the Allowance for Bad Debts Account has a credit balance of $2,700, before the adjustment, as of December 31, 2021? Assume the same fact in (c), except that there is a $1,600 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record?

Information related to Jocary Corp. for 2021 is summarized below: Instructions: a. What amount of BAD DEBTS EXPENSE will Jocary Corp report if it uses the DIRECT WRITE-OFF METHOD of accounting for bad debts? b. Assume that Jocary Corp. decides to estimate its bad debts expense to be 1% of credit sales. What amount of BAD DEBTS EXPENSE will Jocary Corp record if the Allowance for Bad Debts Account has a credit balance of $1,800, before the adjustment as of December 31,2021 ? c. Assume the same fact in (b), except that there is a $1,200 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record? d. Assume that Jocary Corp decides to estimate its bad debts expense based on 5% of the accounts receivable balance as of December 31,2021 . What amount of BAD DEBTS EXPENSE will Jocary Corp, record if the Allowance for Bad Debts Account has a credit balance of $2,700, before the adjustment, as of December 31,2021 ? e. Assume the same fact in (c), except that there is a $1,600 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record? Information related to Jocary Corp. for 2021 is summarized below: Instructions: a. What amount of BAD DEBTS EXPENSE will Jocary Corp report if it uses the DIRECT WRITE-OFF METHOD of accounting for bad debts? b. Assume that Jocary Corp. decides to estimate its bad debts expense to be 1% of credit sales. What amount of BAD DEBTS EXPENSE will Jocary Corp record if the Allowance for Bad Debts Account has a credit balance of $1,800, before the adjustment as of December 31,2021 ? c. Assume the same fact in (b), except that there is a $1,200 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record? d. Assume that Jocary Corp decides to estimate its bad debts expense based on 5% of the accounts receivable balance as of December 31,2021 . What amount of BAD DEBTS EXPENSE will Jocary Corp, record if the Allowance for Bad Debts Account has a credit balance of $2,700, before the adjustment, as of December 31,2021 ? e. Assume the same fact in (c), except that there is a $1,600 debit balance in Allowance for Bad Debts Account. What amount of BAD DEBTS EXPENSE will Jocary Corp record