OASDI tax D) federal unemployment tax SAY. Write your answers on the attached sheet. 33) (3 points) On January 16, Whole Circle, Inc. sold $5,000 merchandise to Smith, on account. Whole Circle could not collect cash from Smith and wrote off the account. P Whole Circle uses the allowance method. repare a journal entry to record the write-off, assuming 34) (4 points) The Allowance for Bad Debts account has a credit balance of $2,000 before the adjusting entry for bad debts expense. The company's management estimates that 2% of net credit sales will be uncollectible for the year 2017. Net credit sales for the year were $250,000. Prepare the journal entry to record the bad debts expense on December 31, 2017 35) (4 points) On November 1, 2017, Kelemen Jewelers accepted a 3-month, 15% note for S6000 in settlement of an overdue account receivable. The accounting period ends in December. Give the journal entry to record the accrued interest at the year end. 36) (4 points) Houlihan, Inc. purchased a van on January 1, 2016, for $800,000. Estimated life of the van was five years, and its estimated residual value was $90,000. Houlihan uses the straight-line method of depreciation. Give the journal entry to record the depreciation expense for 2016 on the van. 37) (4 points) MacLean Corp. purchased a mine on January 1, 2016, for $500,000 .The mine is estimated to contairn 30,000 tons of iron ore. There is no residual value. The business has extracted and sold 2,500 tons of ore in 2014 Prepare the journal entry to record depletion expense for 2016. (Round your intermediate cal nearest cent.)