Q1,H&R Wholesalers is a retailer providing low-cost, bulk items to small companies. Companies must pay an annual membership fee of $150 to access H&R's warehouses. H&R received yearly membership fees from 468 companies on August 1, 2018.

Required:

At December 31, 2018, calculate the remaining amount of Unearned Revenue and the account balance of the Revenue account. Assume this is their first year of business.

Unearned revenue ?$-------?

Revenue [$--------]

Q2,

Brief Exercise 5-48 Aglng Method Ingrid Inc. has strict credlt policies and onlyr extends credit to customers wlth outstanding credit history. The company examined its accounts and determined that at January 1, 2018, it had balances in accounts recelvable and allowance for doubtful accounts of $428,000 and $2,900 (credlt), respectively. During 2018, Ingrid extended credit for $3,075,000 of sales, collected $2,215,000 of accounts receivable, and bad customer defaults of $4,280. Ingrid performed an aging analysls on its recelvables at year-end and determined that $6,800 of its recelvables will be uncollectlble. Required: 1. Calculate Ingrid's balance in accounts receivable on December 31, 2018, prior to the adjustment. > 2. Calculate Ingrid's balance in allowance for doubtful accounts on December 31, 2018, prlor to the adjustment. reamed: ' 3. Prepare the necessary adjustlng entryr for 2018. Amunt and Explanation Debit Credit Bad Debt Expmse J C] Allowance for DoubeLl Amounts J E] Record adjusting entry for allowance for doubtful accounts estlmate Dobby's statement of earnings lists net sales of $138,000 and a gross margin of $111,000. All other expenses not included in the gross margin totalled $46,500. Required: 1. Calculate Bobby's gross prot ratio. Round your answer to the nearest whole percent. E % 2. Calculate Bobby's net prot margin ratio. Round your answer to the nearest whole percent. Eta Glenooe Supply had the following accounts receivable aging schedule at the end of a recent year. Proportion Age Allowance Expected Accounts Receivable Amount Required to Default Current $310,500 0.005 $1,553 1-30 days past due 42,500 0.01 425 31-45 days past due 25,000 0.13 3,250 46-90 days past clue 12,800 0.20 2,560 91-135 days past due 5,100 0.25 1,525 Over 135 days past due 4,200 0.60 2,520 $11,883 The balance in Glencoe's allowance for doubtful accounts at the beginning of the year was $58,620 (credit). During the year, accounts in the total amount of $62,400 were written off