Problem 2 (11 points) The accounts receivable balance for Tina Corporation is $3,200,000 as of October 31, 2020. Before calculating and recording the month's bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of S50,000. The October 2020 net sales were $24,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a $260,000 estimate for the Allowance for Doubtful Accounts as of October 31, 2020 PART A: PERCENT OF SALES METHOD Assume that Tina Corporation uses the percent of sales method to estimate future uncollectible accounts. What adjusting entry does Tina make to record October 2020 Bad Debt Expense? . . T What is "Accounts Receivable, neton Tina's October 31, 2020 Balance Sheet? S What is "Bad Debt Expense" on Tina's October 2020 Income Statement? S_ PART B: ANALYSIS OF RECEIVABLES METHOD Assume that Tina Corporation instead uses the analysis of receivables method to estimate future uncollectible What adjusting entry does Tina make to record October 2020 Bad Debt Expense? Editing . What is "Accounts Receivable, bet" on Tina's October 31, 2020 Balance Sheet? S . What is "Bad Debt Expense" on l'ina's October 2020 Income Statement? Problem 3 (13 points) Use Walmart, Inc.'s financial statement information to answer the following questions. 1. Provide the following account balances for Walmart (4 points): January 31, 2020 January 31, 2019 Accounts Receivable (cross) Allowance for Doubtful Accounts Accounts Receivable, nel b. Which of the above numbers represents the total amount Walmart is owed by customers as of January 31. Styles Editing b. Which of the above numbers represents the total amount Walmart is owed by customers as of January 31, 2020? (1 point e. Which of the above numbers represents the amount that Walmart believes it will not collect from its customers as of January 31, 2020? (1 point) d. Which of the above numbers represents the amount that Walmart believes it will collect from its customers as of January 31, 2020? (1 point) e. Provide the journal entry (both accounts and amounts) that Walmart must have made to record its estimate of Bad Debt Expense in fiscal year 2020. (3 points) 1. Provide the journal entry (both accounts and amounts) that Walmart must have made to record Accounts Receivable write offs in fiscal year 2020. (3 points) Editing . What is "Accounts Receivable, bet" on Tina's October 31, 2020 Balance Sheet? S . What is "Bad Debt Expense" on l'ina's October 2020 Income Statement? Problem 3 (13 points) Use Walmart, Inc.'s financial statement information to answer the following questions. 1. Provide the following account balances for Walmart (4 points): January 31, 2020 January 31, 2019 Accounts Receivable (cross) Allowance for Doubtful Accounts Accounts Receivable, nel b. Which of the above numbers represents the total amount Walmart is owed by customers as of January 31