Need help with question BE9-8

BES-5 Assume the same information as BE9-4. On March 4, 2018, Carpenter Co. receives payment of $6,200 in full from Megan Gray. Prepare the journal entries to record this transaction. BE9.6 Farr Co. elects to use the percentage-of-sales basis in 2017 to record bad debt expense. It estimates that 2% of net credit sales will become uncollectible. Sales revenues are $800,000 for 2017, sales returns and allowances are $40,000, and the allowance for abtful accounts has a credit balance of $9,000. Prepare the adjusting entry to record bad debt expense in 2017. chod BE57 Kingston Co. uses the percentage f-receivables basis to record bad debt expense. It estimates that 1% of accounts receivable will become uncollectible. Accounts receivable are $420,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,500. (a) Prepare the adjusting journal entry to record bad debt expense for the year (b) If the allowance for doubtful accounts had a debit balance of $800 instead of a credit balance of $1,500, determine the amount to be reported for bad debt expense BE9-8 Presented below are two independent transactions. (a) Tony's Restaurant accepted a Visa card in payment of a $175 lunch bill. The bank charges a 4% fee. what entry should Tony's make? (b) Larkin Company sold its accounts receivable of s60,000. What Entry should Larkin make, given a service charge of 3% on the amount of receivables sold? pose of BE9.9 Compute interest and find the maturity date for the following notes. -on Date of Note Principal Interest Rate (%) Terms (a) June 10 (b) July 14 (c) April 27 $80,000 6% 60 days 90 days 75 days 64,000 $12,000 7% 8% Exercises 4 sented below are data on three promissory notes Determine the missing Deicnunine matuniy dates ans compute interest ad ates an TotalO Date Principal Interest RateInterest Annual Terms 60 days S600:000 90,000 120 000