lab 8 chapter 8

quesntion 5

The Kraft Heine Comptny nas formed in 2015 w th the merper of Kraft Foods and Hu Heinu Corperation. Assume the company reperted the following amoumt in ts unad usted tial balance ln milionst as of December 3L, 2020 Required: 2. Assube Krah Heint unes y of 1 percent of sales to eatimate iss Bad debt expense for the yoac Prepare the eduating journal eneny requied for the yeac, assuming no Bad debt expense has been fecerded yot af no eetry is requirdid tor a tramsactionvevent, stlect "No journal emtry reculred" in the first account field. Enter your answers in mililens rounded to the neasest whole dollar mumber.) Journal entry worksheet fecored tha fied debls eaperates. 2. Assume instoad that Kraft Heinir ules the aging of accounts roce Vable method and estmates that $233 milion of its Accounts Receivable wil be uncolectele. Prepero the adjusting joumal entoy required at December 31,2020 , for recording Bad Debt Eapense. if no entry it required for a transisctianievent, select "No journal eatry required" in the first sccount field, Enier your antwers in militish Journal entry worksheet Meoted the et det ents txpthiti. 3. Asume insteed tha kian Heint vees the sging of accourts encevabie method and eurmutes tha 5233 milion of its Acccunts tecording bed deot espense. of mo entry is tequind fot in trathactiondevent se ket \%o jeurnal entry requiree in the firut account, Journal entry worksheet Eerot tha Bet sils watnost incews in minusu)