Roofers, Inc. had the following transactions for August. What are the journal entries for each August transaction below that Roofers would record. The company records adjusting entries monthly 1. In August the company had $450,000 of credit sales and $200,000 cash sales. The beginning balances in its accounts receivable account was $125,000 and its allowance for bad debt account had a credit balance of $8,000. The company uses the percent of credit sales to calculate bad debt and estimate 3% will become uncollectible. Record the bad debt entry for August: 2. In January of this year, Roofers bought a truck for $120,000. The building has a useful life of 7 years and a salvage value of $10,000. Roofers uses the straight-line method to depreciate. Record the depreciation entry for August rounding your answer to the nearest dollar 3. During August, Roofers repurchased 500 shares of its $.01 par value common stock for $55 a share. Record this stock entry for August: 4. At the end of August, Roofers resold 50 of the repurchased shares for $65 a share. Record this stock entry for August