PROBLEM FIVE ESTIMATING UNCOLLECTIBLE ACCOUNTS 10 points 2 journal entries 2 3 24 28-Feb The following information is available 5 26 Accounts Receivable Sales Revenue (net credit sales) Allowance for Doubtful Accounts 7,500 3,200 100 (credit balance) 8 9 A PERCENTAGE OF RECEIVABLES METHOD 0 #1 =2 B Prepare the journal entry assuming that bad debts are expected to be 6% of accounts receivable. PERCENTAGE OF RECEIVABLES METHOD 3 Prepare the journal entry assuming that bad debts are expected to be 6% of accounts receivable. except that the allownance for doubtful accounts has a DEBIT balance of $10. 0 1 PROBLEM FIVE-ESTIMATING UNCOLLECTIBLE ACCOUNTS 2 journal entries A PERCENTAGE OF RECEIVABLES METHOD GENERAL JOURNAL DATE ACCOUNT TITLE Debit Credit B PERCENTAGE OF RECEIVABLES METHOD DATE GENERAL JOURNAL ACCOUNT TITLE Debit Credit