MID_TERM_2 (2) - References Mailings Review View Home Insert Layout Design Cut Copy Format Painter Calibri (Body) 12 Aa - BIU abe x x AA Paragraph Font oard Question 1: Micha Clothing completed the following transactions during 2018 and 2019: 2018: . RES, 31 : Estimated that bad debt expense for the year was 3% of the credit sales of $ 750 000 and recorded the amount as expense December 31: Made the closing entry of the bad debt expense . 2019: Feb. 15 : Sold inventory to Simo, 510 000 on credit terms of 2/10,n/30. Cost of goods sold : 55 000 June 30: Wrote off Simo's account as uncollectible after repeated efforts to collect from the customer September 10: Received 55 000 from Simo along with a note receivable of $5 000, 20 days, 10%. Reinstated the account in full. September 30: Collected the Simo'note at maturity date December 31: Made a compound entry to write off the following account: O Corbeil : $ 1500 o Tremblay : S3000 O Bellehumeur : $12 000 December 31: The company decided to use the aging-of-accounts method and estimated that $30 000 of its accounts receivable will prove uncollectible December 31: Made the closing entry of the bad debt expense . . REQUIRED: 1. Record the transactions in the general journal 2. Post them in the three-column general ledger accounts of Allowance for Doubtful Accounts and Bad Debt Expence. 3 263 words DX French (France) Type here to search o