Norfolk Sporting Goods purchases merchandise vth a catalog list price of $13,500. The retailer receives a 27% trade discount and credit terms of 2/10, 1/30. What amount should Norfolk debit to the merchandise inventory account (Round your answer to the nearest dollar)? a. $9,855 b. $9,658 c. $13,500 d. $197 At the end of the current year, fees of $4,525 have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. The prepaid insurance account had a beginning balance of $7,620 and was debited for $590 for premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $5,860. Dec. 31 At the end of the current year, Accounts Receivable has a balance of $121,300 Allowance for Doubtful Accounts has a debit balance of $3,621 and sales for the year total $1,024,000. Bad debt expense is estimated at 3% of sales. a. Determine the amount of the adjusting entry for bad debt expense. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. After the accounts have been adjusted at January 31, the end of the year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company: Harrison Taylor, Capital $336,110 Harrison Taylor, Drawing 12,790 Fees Earned 135,940 Wages Expense 42,340 Rent Expense 13,280 Supplies Expense 14,650 Miscellaneous Expense 1,890 Journalize the entries required to close the accounts. If an am box does not require an entry, leave it blank. Jan. 31 Jan. 31 o On December 31, the balance in the office supplies account is $1,310. A physical count shows $585 worth of supplies on hand. Prepare the adjusting entry for supplies. Dec. 31 Prepare a journal entry for the purchase of a truck on April 4 for $55,010, paying $4,100 cash and the remainder on account. If an amount box does not require an entry, leave it blank. Apr. 4