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this is kinds confusing plesse help Problem One Problem Two Problem One Information regarding Hohenberger Company for 2022 is summarized below: Total Credit Sales 2,100,000.00

this is kinds confusing plesse help
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Problem One Problem Two Problem One Information regarding Hohenberger Company for 2022 is summarized below: Total Credit Sales 2,100,000.00 Accounts Receivable 840,000.00 Bad Debts Written Off 38,000.00 a) What would be the amount of bad debts expense if the direct writeoff method were used? (2) b) Assume that Hohenberger company estimates its bad debts expense at 3% of credit sales. What would be the journal entry recorded in estimating the bad debts using the income statement method? Date Particulars Debit Credit (3) c) c) Assume that Hohenberger company estimates its bad debts expense based on 6% of total accounts receivable. What would be the journal entry recorded in estimating the bad debts expense using the balance sheet method if the Allowance for Doubtful Accounts has a credit balance of $3,000. Date Particulars Debit Credit d) Assume the same facts as c) except that there is a $3,000 debit balance in the Allowance for Doubtful Accounts. What would be the necessary journal entry? Date Particulars Debit Credit (4) Problem One Problem Two Problem Two 0-30 Number of Days Outstanding 31-60 61-90 9,000 11,000 Over 90 Customer Aber Bohr Case Datz Others Total Amount Owed Total 20,000 30,000 50.000 38,000 120,000 258,000 30,000 15,000 5,000 30,000 38,000 92.00 137,000 15,000 29,000 13.000 24,000 68,000 3% 6% 12% 24% Total: (4) Estimated Percentage Uncollectible Estimated Bad Debts At December 31, 2021, the unadjusted AFDA has a credit balance of $9,000. a) Journalize the adjusting entry for December 31, 2021. (4) Date Particulars Debit Credit b) Journalize the following events and transactions for 2022 to the allowance account. (6) 1. March 1, a $1,000 customer balance is determined to be uncollectible 2. On May 1, a cheque for $1,000 is received from the customer whose account was written off as uncollectible on March 1. Particulars Debit Credit Date March ! May 1 c) Journalize the adjusting entry for bad debts on December 31, 2022, assuming that the AFDA has a debit balance of $2,050 and the 2022 ageing schedule indicated that the total estimated bad debts will be $37,100. (4) Particulars Debit Credit Date Dec. 31

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