Marion Company had sales revenue of $750,000 in 2020. Allowance for Bad Debts has a credit balance of $700. Study of prior years figures indicates 1.1% of net sales are uncollectible and 5.0% of A/R are uncollectible.

December 31, 2020 Age of Accounts

Accounts Receivable	1-30 Days	31-60 Days	61-90 Days	Over 90 Days
110,000	62,000	34,000	10,000	4,000
Estimated % Uncollectible	0.5%	5%	16%	50%

1.Prepare the journal entry to estimate bad debt expense assuming:

a. The company uses the % of sales method

b. The company uses the % of A/R method

c.The company uses the aging of A/R method

2. Prepare the journal entry to write off $1,500 A/R from Grant Company on March 2, 2021.

3. Prepare the journal entries to record collection of $800 from Grant Company on June 5, 2021.