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 $44,000 during the first three months of 2020, and that the Accounts Receivable balance on March 31, 2020, is $22,867. Required: 1a. Prepare the adjusting entry to record bad debts expense, which are estimated to be 1% of total revenues on March 31, 2020. There 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 2% of accounts receivable on March 31, 2020. 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, 2020, is $20,250 and that one account of $100 has been written off against the Allowance for Doubtful Accounts since March 31, 2020. If Rey uses the method in part 1b, what adjusting journal entry is made to recognize bad debts expense on June 30, 2020? Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Req 2 Prepare the adjusting entry to record bad debts expense, which are estimated to be 1% of total revenues on March 31, 2020. There is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. View transaction list Journal entry worksheet 1 Record estimated bad debts. 1 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 90 points Prepare the adjusting entry to record bad debts expense, which are estimated to be 1% of total revenues on March 31, 2020. There zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. View transaction list eBook Print Journal entry worksheet s 1 References Record estimated bad debts. Note: Enter debits before credits General Journal Date March 31, 2020 Debit Credit Record entry Clear entry View general Journal Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 90 points Prepare the adjusting entry to record bad debts expense, which are estimated to be 2% of accounts receivable on March 31, 2020. The is a zero unadjusted balance in the Allowance for Doubtful Accounts at March 31. (Do not round intermediate calculations.) View transaction list eBook Journal entry worksheet Print $ 1 References Record estimated bad debts. Note: Enter debits before credits. General Journal Debit Credit Date March 31, 2020 Record entry Clear entry View general journal 1 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 20 oints Assume that Business Solutions's Accounts Receivable balance at June 30, 2020, is $20,250 and that one account of $100 has been written off against the Allowance for Doubtful Accounts since March 31, 2020. If Rey uses the method in part 1b, what adjusting journal entry is made to recognize bad debts expense on June 30, 2020? (Do not round Intermediate calculations.) eBook View transaction list Print Journal entry worksheet 1 ferences Record the estimated bad debts. Note: Enter debits before credits General Journal Date June 30, 2020 Debit Credit Record entry Clear entry View general Journal 2 ! of 2 Required information [The following information applies to the questions displayed below.) Vail Company recorded the following transactions during November Date General Journal Debit Credit Nov. 5 Accounts Receivable-Ski Shop 4,615 Sales 4,615 10 Accounts Receivable Welcome Enterprises 1,350 Sales 1,350 13 Accounts Receivable-Zia Natara 832 Sales 832 209 21 Sales Returns and Allowances Accounts Receivable-Zia Natara 209 2,713 30 Accounts Receivable-Ski Shop Sales 2,713 es 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts receivable ledger. General Ledger Accounts Receivable Sales 2 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts receivable ledger. Part 1 of 2 General Ledger Accounts Receivable Sales bints eBook End. Bal End Bal Hint Accounts Receivablo Subsidiary Ledger Ski Shop Sales Returns and Allowances Print forences End Bal End.Bal Welcome Enterprises Zia Natara End. Bal End.Bal 3 0 Required information [The following information applies to the questions displayed below.) Vail Company recorded the following transactions during November Part 2 of 2 5 points Debit Credit 4,615 4,615 Date General Journal Nov. 5 Accounts Receivable-Ski Shop Sales 10 Accounts Receivable-Welcome Enterprises Sales 13 Accounts Receivable-Zia Natara Sales 1,350 1,350 832 eBook 832 209 21 Sales Returns and Allowances Accounts Receivable-Zia Natara 209 Hint 2,713 30 Accounts Receivable-Ski Shop Sales 2,713 Print 2. Prepare a schedule of accounts receivable. References VAIL COMPANY Schedule of Accounts Receivable November 30 Total