Question 1 Ans Trade Company uses the accounts receivable aging method to estimate uncollectable accounts. Before year-end adjustment, balance brought forward of allowance for uncollectible accounts is $20,000. As part of the year-end procedures on December 31, 2020, an aging analysis of accounts receivable is prepared and allowance for uncollectable accounts is calculated as $27,500. Prepare necessary accounting entry for allowance for uncollectable accounts as of December 31, 2020. Ans Question 2 Investment Company engaged in following transactions during 2018: J 1-Feb invested $100,000 in 120-day government bond that had a maturity value of $105,000. 2-Mar purchased 10,000 shares of New Co. Common stock at $10 per share and 20,000 shares of Old Co. Common stock at $20 per share as trading securities. 3-Jun received maturity value of government bond in cash. 4-Jul received dividends of $1 per share from New Co. and $2 per share from Old Co. 5-Aug sold 10,000 shares of Old Co. for $22 per share. 1-Oct invested $50,000 in 120-day treasury bills with 5% interest rate per annum. 31-Dec As of year end, market price of New Co. shares is $12 per share and market price of Old Co. shares is $25 per share. Prepare journal entries for the above transactions, including year-end measurement of treasury bills (held to maturity securities) and common stocks (trading securities). Prepare a summary of marketable securities as of December 31, 2020. While answering the questions: Select account names from drop down menu in gray cells. Type S amount in blue cells