SW The December 31. 2020 balance of Mohammad Corn had Accounts Receivable of $400,000 and a credit balance in Allowance for Doubtful Accounts of $32.000. During 2021, the following transactions occurred: (a) sales on account $1,500,000; (b) sales return and allowances $50,000 (C) collection from customers $1,250,000: (d) accounts written off $36,000; (e) previously written off accounts of $6,000 were collected. Instructions: (1) Joumalize the 2021 transaction (2) If the company uses percentage of-sales basis to estimate bad debt expense and anticipates 3% of net sales to be uncollectabie. what is the adjusting entry at December 31. 2021. Question: 5 On June 1, 2021. Tesla company purchased a machine for use in its production process. information concerning the machine is summarized as follows. Tesla's reporting period is from January 1 to December 31. Cost Salvage Value Useful Life in Years $210,000 $20,000 5 Required a) Prepare depreciation schedule under the declining balance method. The company uses the double declining rate. b) Straight-line method i. Calculate the amount of accumulated depreciation at December 31. 2022. ii. Suppose the machine was sold for $150,000 on January 01, 2023. Prepare the journal entry for the sale of the machine. iii. In 2023. the company determined that the total estimated life should be 8 years with a salvage value of $10,000. Calculate the depreciation expense for 2023. Page I 3