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Problem 7-02 The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested. 1. Sandhill Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $51,200 7,880 $1,262,100 Sandhill Company estimates uncollectible accounts will be 5% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense for 2020 2. An analysis and aging of Teal Corp. accounts receivable at December 31, 2020, disclosed the following. Amounts estimated to be uncollectible $ 184,380 Accounts receivable 1,798,200 Allowance for doubtful accounts (per books) 127,480 What is the net amount expected to be collected of Teal's receivables at December 31, 2020? Net realizable value $ 3. Flint Co provides for doubtful accounts based on 3% of gross accounts receivable, The following data are available for 2020 Credit sales during 2020 5824,300 NEL 3. Flint Co. provides for doubtful accounts based on 3% of gross accounts receivable. The following data are available for 2020. Credit sales during 2020 Bad debt expense Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was reestablished) Customer accounts written off as uncollectible during 2020 What is the balance in Allowance for Doubtful Accounts at December 31, 2020? $824,300 58,070 18,180 8,560 30,830 Allowance for doubtful accounts 12/31/20 $ 4. At the end of its first year of operations, December 31, 2020, Buffalo Inc. reported the following information. Accounts receivable, net of allowance for doubtful $1,007,400 accounts Customer accounts written off as uncollectible during 2020 21,810 Bad debt expense for 2020 What should be the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts Accounts receivable, before deducting allowance for doubtful accounts $ 5. The following accounts were taken from carta Inc.'s trial balance at December 31, 2020, 85,420 Debit Credit 560, 500 Net Credit sales Allowance for doubtful accounts $14,570 4. At the end of its first year of operations, December 31, 2020, Buffalo Inc. reported the following information. Accounts receivable, net of allowance for doubtful accounts $1,007,400 Customer accounts written off as uncollectible during 2020 21,810 Bad debt expense for 2020 85,420 What should be the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts? Accounts receivable, before deducting allowance for doubtful accounts $ 5. The following accounts were taken from Carla Inc.'s trial balance at December 31, 2020. Debit Credit Net credit sales $690.500 Allowance for doubtful accounts $14,570 Accounts receivable 305,800 If doubtful accounts are 3% of accounts receivable, determine the bad debt expense to be reported for 2020. Bad debt expense, as adjusted Click if you would like to show Work for this question: Doen Show Work