Problem #1 ( 10 points) The following transactions took place during 2021 for Webb lndustrics. January 1, 2021 - the CFO established that $65,000 of accounts receivable was estimated to be uncollectable during 2021 . December 31, 2021 - the CFO determined that $28,000 of accounts receivable was to be written off as uncollectable at the end of 2021. Please prepare journal entries for Webb Industries assuming they use the Allowance Method for writing off accounts receivable. Please prepare the joumal entry for Webb Industries for the above December 31,2021 transaction assuming they use the Direct Method of writing off accounts receivable. Problem \#2 (15 points) Washington Warehouse is a small retail business that specializes in the sale of top-or-the-line televisions. This year, the store has begun to carry the Flat TV manufactured by Bass Company. Thus far, Washington has recorded the following transactions involving the Flat TV: January 5 Purchased 8 Flat TVs - on account - at a unit cost of $1,400each. January 10 Sold 6 Flat TVs - on account - at a unit cost of $2,000 each. January 12 Paid Bass Company for the January 5 transaction above. Bass offered payment terms of 2/10,N/30. Plense prepare the four (you're welcome) journal entries for Washington Warehouse assuming they use a perpetual inventory system. For 3 extra credit points, please record the January 5 entry above assuming the neriodic inventory method. Problem if (15 polnts) Below please find the aceoubting and bank information for the checking account of the Purple Cobras Athletic Club, Plectse prepare 1) a bank reconciliation using good form as of November 30,2021 and 2) any journal cutries that may need to be recorded, Balance per bank statement as of Nov 30, 2021 = $23,600. Cash balance per client gehtral ledger as of Noveniber 30,2021=$28,055 Outstanding checks: Check #123=$824/ Cheek 1125$176 Deposit in transit =$8,400 (reflected on bank statement 12-3-2021) Bank fees (unrecorded in elieat ledger) =$55 Collection by bank of customer note payable (unrecorded is clieat ledger) 53,000