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Unit 6 Study Exercises Question 6.1 (Total: 20 marks; -2 marks per error) PEI Potato Corporation's unadjusted trial balance included the following accounts: Accounts Debit

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Unit 6 Study Exercises Question 6.1 (Total: 20 marks; -2 marks per error) PEI Potato Corporation's unadjusted trial balance included the following accounts: Accounts Debit Credit Accounts Receivable $140,000 $890 Allowance for Doubtful Accounts Sales $425,000 10,000 Sales Returns and Allowances Required Prepare adjusting journal entries assuming that the estimate of uncollectibles is determined by using 1. 4% of gross accounts receivable, and 2 1.5% of net sales (Total: 15 marks: 5 marks per part)

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