Snow corporation sells all merchandise to customers on credit. Selected account balances at the year and December 31, 2019 are as follows:

QUESTION #6 - ALLOWANCE FOR DOUBTFUL ACCOUNTS Snow Corporation sells all merchandise to customers on credit. Selected account balances at the year-end December 31, 2019 are as follows: CREDIT DEBIT $375,000 Accounts Receivable Credit Sales Allowance for Doubtful Accounts $531,000 10,800 Required: Answer each of the following independent questions, 1. A) Assume the company estimates that 1.5% of all credit sales will not be collected. Prepare the proper journal entry on December 31, 2019 to recognize the Bad Debts Expense. Date Account PR Debit Credit B) What amount would be the balance in the Allowance for Doubtful Accounts after the above journal entry on December 31", 2019? 2. Assume the company estimates that 9% of its Accounts Receivable will never be collected A) Prepare the proper joumal entry to recognize the expense on December 31, 2019. 2. Assume the company estimates that 9% of its Accounts Receivable will never be collected. A) Prepare the proper journal entry to recognize the expense on December 31, 2019. Date Account PR Debit Credit - Page 11 of 14 B) What amount would be the balance in the Allowance for Doubtful Accounts after the above journal entry on December 31, 2019