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aedue-my.sharepoint.com C + Netflix (13) Patoranking - Love you Die. (13) Don't Tell 'Em - YouTube *Homework Help - Q&A from On.. Home - American University of. Course: Intermediate Accountin... Individual ASSIGNMENT 4.docx Word Sign in Individual ASSIGNMENT 4 [Accessibility Mode Download Print Find ... Question 1. (40 points) On December 31 2019, the end of its fiscal year, XYZ Company estimates bad debts at 3% of accounts receivable. Required: Prepare the necessary journal entry to record Bad Debt Expense under the following scenarios and explain your solution: a) (20 points) Debit Credit Accounts Receivable $ 200,000 Allowance for Doubtful Accounts $ 3,000 b) (20 points) Debit Credit Accounts Receivable $ 200,000 Allowance for Doubtful Accounts 1,500 Solution a) GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT Explanation: Page 2 of 5 100% Give Feedback to Microsoftaedue-my.sharepoint.com C + Netflix (13) Patoranking - Love you Die. (13) Don't Tell 'Em - YouTube *Homework Help - Q&A from On.. Home - American University of.. Course: Intermediate Accountin... Individual ASSIGNMENT 4.docx Word Sign in Individual ASSIGNMENT 4 [ Accessibility Mode Download Print Find ... Question 2. (60 points) Given below is inventory information for the month of July obtained from the records of DOJ Co. PURCHASES SALES Date Description Units Unit cost Date Description Units Unit price July 1 Beginning Inventory 30 July 10 Sold 20 10 11 Purchased 80 15 Sol 50 10 20 Purchased 50 27 Sold 25 10 Required: Compute COGS and ENDING INVENTORY COST under the following cost flow assumptions: a) FIFO - Perpetual Inventory System (25 points) b) AVERAGE - Perpetual Inventory System (25 points) c) Do you agree with the following statement (explain) (10 points) "FiFo and Average Cost methods produce the same results under both Periodic and Perpetual inventory system" ACT 410- Intermediate Accounting I - Spring 2020 Page 315 Individual Assignment 4 (15%) Page 3 of 5 100% Give Feedback to Microsoft