Prepare the following journal entries (a) Assume that Coral Company on February 1, 2018, sells merchandise on account to Membres Company for $5,500, terms 3/15, n/60, FOB Destination. On February 10, Membres Company returns merchandise worth $1,700 to Coral Company. On February 15, 2017, Coral Company receives payment from Membres Company for the balance due. Value 14 pts. Prepare the following journal entries (b) On March 1, assume that Flora's Company made a credit sale for $3,000 on account to Maryland Company. On March 15, Floral Company received the amount of $1,500 of the credit sales. On March 30, Maryland Company have liquidity problems and Flora's Company estimate that $1,500 to be uncollectible. On April 5, Flora's Company made a write-off of uncollectible account for $1,500 On April 30, recovery of an uncollectible account in the allowance method, if Maryland Company pays the $1,500 that was written off, prepare the journal entry or entries. Value 24 pts. Prepare the following journal entries (c) Percentage of sales to estimate the uncollectible amount. Assume that Company A elects to use the percentage of sales basis. It conclude that 4% of the credit sales will be uncollectible. If the credit sales for 2017 are $1,350,000, prepare the appropriate journal entry. Value 4 pts. Prepare the following journal entries (d) Assume that you are using the aging of account receivable to estimate the amount of bad debt, prepare the adjusting entry using the following information: number of days outstanding Account Receivable percentage of uncollectible 0 - 30 $80,000.00 2% 31 - 60 $50,000.00 3% 61 - 90 $45,000.00 4% 91 - 120 $25,000.00 8% over 120 $18,000.00 11% i) If the account of Allowance of Doubtful Account have a credit balance of $5,000.00. ii) If the account of Allowance of Doubtful Account have a dedit balance of $1,500.00. Value 8 pts. Prepare the following journal entries (e) Assume that C Company factors $800,000 of receivable to D Factors. D Factors assesses a service charge of 4.5% of the amount of receivable sold. The journal entry to record the sale should be? Value 6 pts. Prepare the following journal entries (f) Assume that you purchases $5,000 TV for your house from Sears using your American Express. American Express charges a service fee of 5%. Make the journal entry that Sears should made to record this transaction. Value 6 pts. Prepare the following journal entries (g) Mona wrote a $7,500, four month, 15% promissorty note dated May 1, to settle a open account. Prepare the entry that Mona would makes for the receipt of the note. On September 1, prepare the journal entry if Mona receives the payment of the note, at payment date. (Honor of a note receivable) If on September 1, Mona does not receives the payment of the note, at payment date. (Dishonor of a note receivable) Value 16 pts. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a