Question 2: At December 31, Sami Co. has accounts receivable balance $500,000. Sami Co. estimates that 5% of these receivables will prove uncollectible. On March 1, 2019, Sami Co write-off of the $500 balance owed by Nasser Co. On July1, 2019 Nasser Co. pays the $500 amount that Sami Co. had written off on March 1. Prepare the journal entries and the ledger account for Accounts receivables and Allowance for doubtful accounts The answer: The General Journal Date Debit Credit Dr. Cr Accounts receivable Dr Allowance for Doubtful Accounts CR Question 3: Hossam Co. lends Fahd Co. $40,000 on June 1, accepting a four- month, 6% interest note. If Hossam presents the note to Fahd Co. on October 1, the maturity date, and receive the amount. Prepare the journal entries The answer: The General Journal Date Debit Credit Question 4: On June 1, Meshal Co. lent Amr Co. $60,000, and accept a two- month, 5% interest note. On Aug. 1, the maturity date, Meshal presented the note to Amr Co. but Amr refused to pay the amount. Prepare the journal entries The answer: The General Journal Date Debit Credit