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Use the following information provided to answer all questions related to Joy and her business: Joy owns and operates a wildly successful gutter-clearing business. Prior

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Use the following information provided to answer all questions related to Joy and her business: Joy owns and operates a wildly successful gutter-clearing business. Prior to the year-end adjustment to record bad debt expense for Year 1, the general ledger of Joy's company included the following accounts and balances: Allowance for Doubtful Accounts $1,000 credit balance Accounts Receivable $200,000 Cash collection on accounts receivable during Year 1 amounted to $450,000. Sales revenue during Year 1 amounted to $800,000, of which 75% was on credit, and Joy estimated that 2% of these credit sales made in Year 1 would ultimately become uncollectible. D Question 8 1 pts Calculate Joy's bad debt expense for Year 1 using the percentage of credit sales method for estimating uncollectible accounts. What is the net realizable value of accounts receivable as of the end of Year 1? Question 9 1 pts A former customer tells Joy that he will not be able to pay his $1,344 account because he lost his job. Record the journal entry that Joy will make to record his new information 1 pts Question 9 A former customer tells Joy that he will not be able to pay his $1,344 account because he lost his job. Record the journal entry that Joy will make to record his new information. Dr. Cr. Question 10 1 pts A few months later, the same customer has found a job and pays Joy 50% of the amount he previously owed her. Record the journal entries that Joy will make to record this payment. (Hint: Two journal entries will be needed to record this payment! Dr. Cr. Dr. Cr

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