the entry needed to record collection of the nate at maturity on March 19, 20. Asume that the entry on November 19, correct. I bow does it to entry, have it bank und all amounts to the nearest dla Cash Notes Receivableast Feet Co. Interest Receivable 0000 Interest Revenue We Remember to consider that note and collected a minya Final Questions Fan-Tastic Sports Gear Inic recorded $2,900,000 of sales last year and projects sales to increase by $360,000 in the current years of sales were on account with over 400 customer accounts. Bad debt expense was $26.187 1. Assume that Fan-Tastic Sports Gear Inc used the allowance method last year and the allowance account at the ind of the War had a debit balance of 12,240. The company estimated collectible accounts expense using the percent of credit sales method and expected 0.75% of credit sales to be collectible what the amount of the adjusting entry to provide for brul accounts on December 317 Round all computations to the nearest dollars 7. How much iger (lower would fall taste Sports Gear Inc net income have been under the allowance method assumption previously shown in (1) han under the direct write-off method Enter there is no change.) Higher 3. Using the allowance method, the tale of the receivables would appear on which financial statement balance sheet 4. Journal the entry needed to record codection of the note at maturity on March 19, 2018 Assume that the entry on November 19, 2017 is correct namun box desnom entry leave it blank Round all amounts to the nearest Mat 10 Cash Notes Receivable Fast Feet Co. Interest Receivable Interest Revenue 1110 Herberto consider the town and collected at man dierent years Final Questions I Fan-Tastic Sports Gear Inc recorded $2,000,000 of sales last year and projects sales to increase by $360,000 in the cent year. Last year, 90% of sales were on account, with over 100 customer accounts. Bad debt expense was $26,187 1. Assume that Fan-Tastic Sports Gear Inc. used the allowance method last year and the allowance account at the end of the year had a debit and of 2,240. The company estimated collectible accounts expense using the percent of credit sales method and expected 0.75% of credit sales to be collectie What is the amount of the adjusting entry to provide for doubtful accounts on December 31Round a computations to the nearest dollar 2. How much higher lower would Fantastic Sports Cartes et income been under the allowance method assumti previously shown in (1) than under the direct write-off method (Ester "o there is no change.) Higher 3. Using the allowance method, the netrable of the receivables would appear on which financial statement balance sheet the entry needed to record collection of the nate at maturity on March 19, 20. Asume that the entry on November 19, correct. I bow does it to entry, have it bank und all amounts to the nearest dla Cash Notes Receivableast Feet Co. Interest Receivable 0000 Interest Revenue We Remember to consider that note and collected a minya Final Questions Fan-Tastic Sports Gear Inic recorded $2,900,000 of sales last year and projects sales to increase by $360,000 in the current years of sales were on account with over 400 customer accounts. Bad debt expense was $26.187 1. Assume that Fan-Tastic Sports Gear Inc used the allowance method last year and the allowance account at the ind of the War had a debit balance of 12,240. The company estimated collectible accounts expense using the percent of credit sales method and expected 0.75% of credit sales to be collectible what the amount of the adjusting entry to provide for brul accounts on December 317 Round all computations to the nearest dollars 7. How much iger (lower would fall taste Sports Gear Inc net income have been under the allowance method assumption previously shown in (1) han under the direct write-off method Enter there is no change.) Higher 3. Using the allowance method, the tale of the receivables would appear on which financial statement balance sheet 4. Journal the entry needed to record codection of the note at maturity on March 19, 2018 Assume that the entry on November 19, 2017 is correct namun box desnom entry leave it blank Round all amounts to the nearest Mat 10 Cash Notes Receivable Fast Feet Co. Interest Receivable Interest Revenue 1110 Herberto consider the town and collected at man dierent years Final Questions I Fan-Tastic Sports Gear Inc recorded $2,000,000 of sales last year and projects sales to increase by $360,000 in the cent year. Last year, 90% of sales were on account, with over 100 customer accounts. Bad debt expense was $26,187 1. Assume that Fan-Tastic Sports Gear Inc. used the allowance method last year and the allowance account at the end of the year had a debit and of 2,240. The company estimated collectible accounts expense using the percent of credit sales method and expected 0.75% of credit sales to be collectie What is the amount of the adjusting entry to provide for doubtful accounts on December 31Round a computations to the nearest dollar 2. How much higher lower would Fantastic Sports Cartes et income been under the allowance method assumti previously shown in (1) than under the direct write-off method (Ester "o there is no change.) Higher 3. Using the allowance method, the netrable of the receivables would appear on which financial statement balance sheet