Problem 6-6: The Safari Corporation The Safari Corporation had annual sales of $24000 for the year ended December 31, 2021. On that date, Accounts Receivable were $12000 and there was an unadjusted Allowance for Doubtful Accounts of $300 (credit). The company uses the % of Ending Accounts Receivable method to estimate bad debts. Required. Prepare journal entries to reflect the following items that have not been included in the unadjusted allowance for doubtful accounts: 1. During the year, the company wrote off bad debts in the amount of $900. 2. During 2021 There was a recovery of a write-off of bad debts that occurred in 2017 in the amount of $120. 3. An adjusting entry to bring the allowance account to the appropriate amount on December 31, 2021. The company expects bad debts to be 9% of ending accounts receivable. (round all amounts to the nearest $) 1. During the year, the company wrote off bad debts in the amount of $900. 2. During 2021 There was a recovery of a write-off of bad debts that occurred in 2017 in the amount of $ 120. 3. An adjusting entry to bring the allowance account to the appropriate amount on December 31, 2021. The company expects bad debts to be 9% of ending accounts receivable. (round all amounts to the nearest S) Problem 6-7: The Chancellor Corporation The following information was available for the Chancellor Corporation on December 31, 2021: Year 2019 2020 2021 Sales 3000 1000 9000 Accounts Receivable 700 900 100 Required 1. Calculate Receivables Turnover in 2021 (round to 2 decimal places). 2. Calculate the average days to collect receivables in 2020. Assume a 365 day year and round all results to the nearest day. 3. Calculate the average days to collect receivables in 2021. Assume a 365 day year and round all results to the nearest day. Upon completion enter your answers below (2 decimal places): Receivables Turnover (2021): Days to Collect Receivables (2020): Days to Collect Receivables (2021): submit