Please help me out with the correct solutions for the following practice problems
Required information Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Problem 7-3A (Algo) Part 2 2. Prepare the adjusting entry to record bad debts expense at December 31. Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations. Required information Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Problem 7-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Required information Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtfut accounts $756,000 debit $7,600 debit Problem 7-2A (Algo) Part 3 3. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Required information Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below] At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $756,000debit$7,600debit Problem 7-2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Recelvable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Required information Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year: In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $756,000 debit \$ 7,600 debit Problem 7-2A (Algo) Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31)
