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Please answer parts a,b,c,d,e, and f for question 2 below: 2. The Tanner Company provided the following information for 2021 , after year-end adjustments. -
Please answer parts a,b,c,d,e, and f for question 2 below:
2. The Tanner Company provided the following information for 2021 , after year-end adjustments. - Allowance for doubtful accounts was $11,000 at the beginning of the year, and $30,000 at the end of the year. - Accounts receivable (gross) were $80,000 at the beginning of the year, and $420,000 at the end of the year. - Accounts written off as uncollectible during the year were $10,000. - Gross sales totaled $2,650,000. $1,350,000 gross sales were in cash; the remaining were on account. - Credit card fees were $50,000 and apply to the cash sales only. (a) How much was Tanner's net sales revenue for the year? (b) Fill in the T-accounts for Cash, Sales Revenue (gross), Sales Discount, Bad Debt Expense, Allowance for Doubtful Accounts, and Accounts Receivable (gross) for 2021. Remember to write + and - to indicate the side of the T that represents increases and decreases, and label beginning and ending balances and transactions. (c) What is the journal entry to record sales revenue? (d) What is the adjusting journal entry (AJE) to estimate bad debts? (e) What is the journal entry to write off uncollectible accounts? (f) What is the journal entry to record the collection of accounts receivable inStep by Step Solution
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