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QS 7-8 (Algo) Percent of accounts receivable method LO P3 Warner Company's year-end unadjusted trial balance shows accounts receivable of $114.000, allowance for doubtful accounts

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QS 7-8 (Algo) Percent of accounts receivable method LO P3 Warner Company's year-end unadjusted trial balance shows accounts receivable of $114.000, allowance for doubtful accounts of $750 (credit), and sales of $430,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles 2 What amount would have been used in the year-end adjusting entry of the allowance account had a year-end unadjusted debit balance of $1,050? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What amount would have been used in the year end adjusting entry if the allowance account had a year-end unadjusted debit balance of $1,0502 Amount used in the year-end adjusting entry 90 % QS 7-10 (Algo) Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis, Days Past Due Total 1 to 30 31 to 60 Accounts receivable 61 to 90 Over 90 5164,000 $190,000 5 32.000 $ 14,000 $ 11,000 $ 13,000 Percent uncollectible 1x 38 SX * 115 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $2.400 credit Answer is not complete Complete this question by entering your answers in the tabs below. Required Required Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $2,400 credit No Dato Debit Credit 1 December 31 2.400 General Journal Bad dobis expense Allowance for doubtfal accounts (Required 1 2.400 Kri QS 7-14 (Algo) Note receivable honored LO P4 On August 2 Jun Company receives a $7,400, 90-day, 13.5% note from customer Ryan Albany as payment on his $7.400 account receivable Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) View transaction list Journal entry worksheet 1 > Record cash received on note plus interest. Note: Enter debits before credits Debit Credit Dato General Journal October 31 Cash Notes receivable-R Albany Interest revenue Record entry Clear entry View general Journal QS 7-15 (Algo) Note receivable interest and maturity LO P4 On December 1, Daw Company accepts a $36,000, 45 day, 10% note from a customer (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored (Use 360 days a year.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 December 31 Interest receivable Interest revenue 2 January 15 Cash Notes receivable Interest revenue Interest receivable 36.000 QS 7-18 (Algo) Factoring receivables LO C3 Record the sale by Balus Company of $137000 in accounts receivable on May 1 Balus is charged a 3 50% factoring fee. Answer is not complete. Debit General Journal No Credit Date May 01 137.000 X 1 Accounts receivable Factoring fee expense Sales 130,000

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