Questions 9 a) ABC Company's ledger at the end of the current year shows Accounts Receivable of $150,000. If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 6% of accounts receivable, journalize the adjusting entry for the end of the period. b) Sheba Company estimates that 1% of net credit sales will become uncollectible. Sales are $500,000, sales returns and allowances are $30,000, and the allowance for doubtful accounts has a $6,000 credit balance. journalize the adjusting entry for the end of the period:. C) On October 1, Belton Bicycle Store had an inventory of 20 bicycles at a cost of $200 each During the month of October, the following transactions occurred. Purchased 25 bicycles at a cost of $200 each from Kuhn Bicycle Company, terms 2/10, n/30 Oct. 4 Sold 15 bicycles to Team America for S$300 each, terms 2/10, n/30. 6 Returned 2 defective bicycles to Kuhn Bicycle Company 7 13 Team America returned 1 defective bicycle. Paid Kuhn Bicycle Company in full, less discount 14 Instructions Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system