QUESTION 7 a)The December 31, 2017 balance sheet of Sauder Company had Accounts Receivable of E500,000 and a credit balance in Allowance for Doubtful Accounts of 33.000 During 2018, the following transactions occurred: 1)sales on account 1,300.000, 2sales returns and slowances, 650.000, 3)collections from customers, 61 215.000,- written off 35,000, 5)previously written off accounts of 5,000 were collected instructions (a) Journalize the 2018 transactions (1 to 5). (15 marks) (b) If the company uses the percentage-of-sales basis to estimate bad debts expense and anticipates 3% of net sales to be uncollectible, what is the dating December 31, 2018? (5 marks) (c) of the company uses the percentage-of-receivables basis to estimate bad debts expense and determines that uncollectible accounts are expected to be to receivable, what is the adjusting entry at December 31, 2018? (5 marks) TTT Arial 3 (12pt T. Ek Save and Submit to save and submit. Click Save All Answers to save all answers, Sa MacBook Pro GOU der Company had Accounts Receivable of 500,000 and a credit balance in Allowance for Doubtful Accounts of 33,000 1)sales on account 1,300,000; 2)sales retums and allowances, 50,000; 3)collections from customers, 81,215,000; 4accounts nts of 5,000 were collected. marks) es basis to estimate bad debts expense and anticipates 3% of net sales to be uncollectible, what is the adjusting entry at Ivables basis to estimate bad debts expense and determines that uncollectible accounts are expected to be 5% of accounts ember 31, 2018? (5 marks) Save All Answers e All Answers to save all answers