Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has total revenues of $56,000 during the first three months of 2022 and that the Accounts Recelvable balance on March 31 2022, is $22,717 Required: 10. Prepare the adjusting entry to record bad debts expense, which are estimated to be 2% of total revenues on March 31,2022 . Ther is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 1b. Prepare the adjusting entry to record bad debts expense, which are estimated to be 3% of accounts receivable on March 31 , 2022 . There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 2. Assume that Business Solutions's Accounts Receivable balance at June 30,2022 , is $20,700 and that one account of $90 has been written off against the Allowance for Doubtful Accounts since March 31, 2022. If Rey uses the method in part 16, what adjusting journal entry is made to recognize bad debts expense on June 30,2022 ? Complete this question by entering your answers in the tabs below. Prepare the adjusting entry to record bad debts expense, which are estimated to be 2% of total revenues on March 31, 2022. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31 . Journal entry worksheet Journal entry worksheet Record estimated bad debts. Note: Enter debits before credits, Journal entry worksheet Selected ledger account balances for Business Solutions follow. required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022 , Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expen Computer equipment (assume use of the straight-line method) 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31,2022 Complete this question by entering your answers in the tabs below. 2. Given the assumptions in part 1, what is the book value of both the ottice equipment and the computer equipment December 31,2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31,2022 Complete this question by entering your answers in the tabs below. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-office equipment and for Depreciation expense- 2. Given the assumptions in part 1, what is the book value of both the oftice equipment and the computer equipment as o December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31,2022 Complete this question by entering your answers in the tabs below. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31,2022 ? amounts tor the year ended Uecember 31,202, for Depreciation expense-Umice equipment and tor Uepreciation expenseComputer equipment (assume use of the straight-fine method) 2. Given the assumptions in part1, what is the book value of both the office equipment and the computer equipment as of December 31,2022 ? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022 Complete this question by entering your answers in the tabs below. Compute the three-month total asset turnover for tusiness Solutions as of March 31, 2022. Note: Round your answer to 2 decimal places
