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pls solve these two Questions. than The trial balance before adjustment of Skysong Inc. shows the following balances. Give the entry for estimated bad debts
pls solve these two Questions. than
The trial balance before adjustment of Skysong Inc. shows the following balances. Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of accounts receivable assuming Allowance for Doubtful Accounts has the balance given in the problem data, and (b) 5% of accounts receivable assuming Allowance for Doubtful Accounts has a $1,390 credit balance. (If no entry is required, select "No Entry" for the not indent manually.) Bonita Family Importers sold goods to Tung Decorators for $39,600 on November 1,2022 , accepting Tung's $39,600, 6-month, 6% note. Prepare Bonita's November 1 entry, December 31 annual adjusting entry, and May 1, 2023, entry for the collection of the note and interest. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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