The following are a series of unrelated situations.

Answer the questions relating to each of the five independent situations as requested.

1. Pharoah Company’s unadjusted trial balance at December 31, 2020, included the following accounts.

		Debit		Credit
Accounts receivable		$50,400
Allowance for doubtful accounts		6,000
Net sales				$1,276,000

Pharoah Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2020.

Bad debt expense for 2020

$

2. An analysis and aging of Novak Corp. accounts receivable at December 31, 2020, disclosed the following.

Amounts estimated to be uncollectible		$ 183,880
Accounts receivable		1,792,200
Allowance for doubtful accounts (per books)		129,100

What is the net amount expected to be collected of Novak’s receivables at December 31, 2020?

Net realizable value

$

3. Splish Co. provides for doubtful accounts based on 3% of gross accounts receivable, The following data are available for 2020.

Credit sales during 2020		$448,000
Bad debt expense		58,020
Allowance for doubtful accounts 1/1/20		17,340
Collection of accounts written off in prior years (customer credit was reestablished)		8,290
Customer accounts written off as uncollectible during 2020		29,650

What is the balance in Allowance for Doubtful Accounts at December 31, 2020?

Allowance for doubtful accounts 12/31/20

$

4. At the end of its first year of operations, December 31, 2020, Blossom Inc. reported the following information.

Accounts receivable, net of allowance for doubtful accounts		$1,035,100
Customer accounts written off as uncollectible during 2020		22,380
Bad debt expense for 2020		76,380

What should be the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts?

Accounts receivable, before deducting allowance for doubtful accounts

$

5. The following accounts were taken from Blue Inc.’s trial balance at December 31, 2020.

		Debit		Credit
Net credit sales				$756,000
Allowance for doubtful accounts		$13,950
Accounts receivable		336,100

If doubtful accounts are 3% of accounts receivable, determine the bad debt expense to be reported for 2020.

Bad debt expense, as adjusted

$