roceivable, rather than aging the acoour (ould change if Rianna.com used 3% of total accou uging the acoounts moeing the accounts receivable. What are the acvantages to the company ging the acoounts neceivible nther than applying a perocetage to total accounts roceivable? Astructions 2. Journaliae the July transactions and the July 31 adjusting entry to accrue interest recelvable. (Inter- b. Enter the balances at July 1 in the rooivable scoounts and post the entries to all of the recevible acoounts. (Use T-acosunts) c. Show the balanoe sheet presentation of the recelvable acoounts at July 31,2022 . P.7A (202,2,3), N On lanuary 1, 2022, Hanve Compary lad Accounts Receivable of $54,200 and Allowance for Doubcul Acoounts of 33,700 . Hanee Company prepares financial statements annually. During the year, the following selected transactions cocurred. Jn. 5 Sold re,0o of merchandive to Rian Company, terms a/30. balance dae. 12 Sold s12,000 of merchandise to Cato Company and accepted Catos s12,000, 2 month, 105 note. 26 Sold 5s,200 of merchandice to Makolm Co, terms n/10. Apt. 5 Acepted a 55,200,3 mooth, 85 note from Malooim Co. 12. Collected Cas Compary note in full HW8 8 zant 2 Colloctod Rian Compury sote in fall. is sola 12.000 of merchandie to Gegri ine and accoppud a 32.000,6 month, 1255 note. Instructions was iwshar kunna.com eses the allowance method of accounting for uncollectiliss. The company prodaced the following aging of the accounts notivable at yearend. a. Calculate the total estimated uncollectibles based on the above information ( HW-8 b. Prepure the yearend adjusting journal entyy to record Bed Debt Expense using the aged uncollectBhe acrounts rowehable determined in (a). Asume the unadjusted balance in Allowance for Doebsful Acounts is a 4.000 debit. c. Of the above acoounts, $5,000 is determined to be specifically uncollectible. Prepure the joumal entry to write off the uncollectible account. c. The company coilects $5,000 subsequently on a specific acoount that had previoasly been determited to be uncollectibite in (c). Frepare the journal entry or entrics necesary to restore the accoant and record the canb colloction. e. Con ment on bow your answers to (a)-(d) would change if Rianna cona used 35 of total accounts roceinable, nather than aging the accounts noceivable. What are the advantiges to the company of eing the account necevible nather than applying a percertage to tocal accounts nockivable? Instructions a. Jounalia the Suly tranactions and the July 31 adjusting entry to accrve interest recelvable. (Inter. icosats. (Une T-acownts) c. Sxev in bulaner hem presentution of the recelvable acocuats at July 31,2002. a. Journaliae the July transactions and the July 31 adjusting entry to accrue interest recelvable. (Inter: Instructions met ienoneuted ueng 360 dayi tor terms ceprested in Awy omit cost of goods wold cntries) b. Enter the balances at July 1 in the roceivable scounts and post the entries to all of the receivable accounts. (Uee Taccounts) c. Show the balance sheet presentation of the receivable acoounts at July 31,2022 . F.7A (10 1,2,3, M Oa January 1, 2022, Harve Company had Accounts Receivable of $54,200 and Allowance for Doubchil Aecounts of \$3,700. Harvee Company prepares financial statemeats annually. During the yeat, the following selected transactions cocurred. Jan. 5 Sold M,00 of merchandise to Rian Company, terms n/30. Reb. 2 Accepted a S400, 4-month, 9 s promisiory note from Rian Company for 12 Sold $12,000 of merchandise to Cato Company and accepted Catol \$12,000, 2 manth, 106 bote. 26 Sold Ss,200 of merchandice to Malcolm Co, terms n/10. Apt. 5 Aespted a SS,200, 3-mooth, 53 note from Maloolm Co. 12. Collected Cato Compary note in full. HW8B Junt 2. Collected kian Compary aote in full. is Sild 82.000 of merchandise to Cerri Ine. and acoepied a $2,000,6 month, 125 note. Instructions bournilite the tramactices. (Omit cost of goods sold entries)