Q3.The balance account of allowance for doubtful account at 31/12/2017 credit $3200. In 30/11/2018 one of receivables with $4800 balance estimated to be never collected (the company didn't record). In 31/12/2018 the account receivables balance was $270,800, sales on credit $1,050,000. Required: Prepare all entries for estimated bad debts in 31/12/2018 assuming that doubtful accounts are estimated to be: (1) 3% of gross accounts receivable (2) 2% of net sales.

Q4; Tread company use the net method to journalize sales with term 2/10, n/30, in 1January 2018 the account receivables beginning balance was $14700 for previous year sales in 25/12/2017, the company sold in 5 January 2018 goods for 20,000. At 11/1/2014 the company received all amounts due on customers for previous year. The company collected the account receivables of sales 5 January in12/01/2018. Required prepare all, entries during January 2018?

Q5;In 1/1/2017 Company signed one year contract for rock extraction, the work will be in 2018 at price $1,000,000 should be pay in 31/12/2018, the market price in31/12/2017 dropped to $950,000. In 31 December 2018 on settlement date the rocks extracted price was $980, 000? Required: Recorded required entries at 31/12/2017and 31/12/2018?