Some Company uses the allowance method for handling receivables. Total Sales for the year were $1,050,000...

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Some Company uses the allowance method for handling receivables. Total Sales for the year were $1,050,000 ($725,000 credit sales and $325,000 cash sales). The unadjusted balance for Accounts Receivable was is $94,000 debit balance and Allowance for Doubtful Accounts $1,800 DEBIT balance. For each unrelated situation below, provide the Dec 31 adjusting entry for Bad Debt Expense, post the entry to T- accounts, and show how accounts receivable would appear on the balance sheet. a) Some company estimates that 1% of credit sales will be uncollectible. Date Dec 31 Bad Debt Expense Description Allowance for Doubtful Accounts Accounts Receivable Less: Allowance for Doubtful Accounts Accounts Receivable, Net Debit Credit b) Some Company estimates that 9% of accounts receivable will be uncollectible. Description Debit Credit Date Dec 31 Bad Debt Expense Allowance for Doubtful Accounts Accounts Receivable Less: Allowance for Doubtful Accounts Accounts Receivable, Net Some Company uses the allowance method for handling receivables. Total Sales for the year were $1,050,000 ($725,000 credit sales and $325,000 cash sales). The unadjusted balance for Accounts Receivable was is $94,000 debit balance and Allowance for Doubtful Accounts $1,800 DEBIT balance. For each unrelated situation below, provide the Dec 31 adjusting entry for Bad Debt Expense, post the entry to T- accounts, and show how accounts receivable would appear on the balance sheet. a) Some company estimates that 1% of credit sales will be uncollectible. Date Dec 31 Bad Debt Expense Description Allowance for Doubtful Accounts Accounts Receivable Less: Allowance for Doubtful Accounts Accounts Receivable, Net Debit Credit b) Some Company estimates that 9% of accounts receivable will be uncollectible. Description Debit Credit Date Dec 31 Bad Debt Expense Allowance for Doubtful Accounts Accounts Receivable Less: Allowance for Doubtful Accounts Accounts Receivable, Net