The schedule of aging accounts for a Company, at the end of the year 2020, appears below: Current 1-30 days overdue 31-60 days overdue More than 60 days overdue Total Accounts Receivable $40,000 10,000 5,500 1.800 57.300 Estimate of Bad Debts 1% 5% 10% 20% The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $600, before the Required: Prepare the adjusting entry to record bad debts expense for 2020. (SHOW YOUR CALCULATIONS) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial 10pt v IX1 QUESTION 11 Sony Company had the following transactions in December: Dec. 2 Dec. 4 Sony purchased $150,000 merchandise inventory on account terms, 3/10, n/30, FOB shipping point Sony returned $10,000 of the merchandise purchased on Dec. 2 because it was defective. Dec. 10 Sony paid the invoice dated Dec 2 less returns and discount. Required: Prepare journal entries for these 3 transactions assuming Sony uses a perpetual inventory system. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt ick Save and Submit to save and submit. Click Save All Answers to save all answers, Av I. \ QUESTION 8 A company had the following purchases during its first year of operations January April May Purchases 20 units at $5 Sales 30 units at $ 4 15 units at $14 The company uses the weighted-average method to determine the cost of its inventory. a What is the weighted average cost per unit in May (round to one decimal place if necessary)? b. What is the cost of goods sold in May? c. What is the cost of ending inventory in May? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Click Save and Submit to save and submit. Click Save All Answers to save all answers