Q1- Hershey Co. uses the percentage of receivables method for recording bad debts expense. For the year, Hershey estimates that 4% of accounts receivable will become uncollectible. If the trial balance shows accounts receivable with a debit balance of $80,000 and allowance for doubtful accounts (ADA) with a debit balance of $600. What would the adjusting entry to the account - Allowance for doubtful accounts be? (Ignore the bad debt expense side of the entry Q2: Blue Co. uses the percentage of sales method for recording bad debts expense. For the year, credit sales are $2 million. Management estimates that 1% of credit sales will be uncollectible. The adjusting journal entry to record the allowance will require a credit Q3: Fultz Co. sells $300,000 of its receivables to Quick Factors and is assessed a finance charge of 2% of the amount of receivables sold. Prepare the journal entry to record the sale of receivables on Fultz's books 04: The Rosewood Restaurant is the site for a large company party. The bill totals $3,000 and is charged by the customer on a Visa credit card. Visa charges the Rosewood a 3% service fee. Record the journal entry for the transaction on Rosewood's books