On January 1, 2014, the Miko Company had the following accounts on its books:

Accounts Receivable: $120,000 (debit) Allowance for Uncollectable Accounts: $4,200 (credit)

During the year 2014, credit sales were $260,000 and collections on accounts were $220,000. The following transactions occurred during 2014:

January 11, 2014: Wrote off Moras account, $1,200.

August 30, 2014: Wrote off MyLines account, $250.

November 20, 2014: Sophy pays $600 of her $1,600 account receivables due.

December 1, 2014: Received $3,000 payment on Smiths accounts receivable, which was previously written off and needs to be restated.

December 31, 2014: In an adjusting entry, Miko Company recorded the provision for uncollectable accounts at 1.5% of credit sales for the year.

Questions:

The four journal entries (1 to 4 above) with a one-sentence description

The allowance for doubtful accounts T-account

The journal entry to record bad debt expense

The balance sheet presentation of net realizable value, including gross accounts receivables of $42,000

Format:

Question 1:
Journal#	Date	Account Title				Debit		Credit
a	1-Jan	Allowance for doutful accounts
		Mora- Accounts receivable
b
	30-Aug	Allowance for doutful accounts
		Accounts Receivables MyLine
c	20-Nov	Cash
		Allowance for doutful accounts
		Sophy- Accounts receivable
d	1-Dec	Smith- Accounts receivable
		Allowance for doutful accounts
		Cash
		Jones- Accounts receivable
Question 2
			Dates	T-Account Allow
				Debit	Credit
			BB
			1-Jan
			30-Aug
			20-Nov
			1-Dec
			Bad Debt Expense=
			Ending Balance=
Calculations:		Bad debt expense=
		Credit sales for the year are
		Percentage of sales are bad debt
		Ending balance= Adding credits/subtracting debits
Question 3
	Date	Account Title				Debit		Credit
	31-Dec	Bad Debt Expense
		Allowance for doutful accounts
Question 4
Balance Sheet Presentaion
	Gross Accounts Receivables
	Ending Blance of Allowance for Doubtbul Accounts
		Net Realizable Balance