Question: 1. Prepare a journal entry: Calculate the bad debt expense for Waren Sports Supply as 5% of the net sales, using the following balances. Use

1. Prepare a journal entry: Calculate the bad debt expense for Waren Sports Supply as 5% of the net sales, using the following balances. Use typical account names for this adjusting entry. Sales $1,450,000 Sales Returns and Allowances $230,000 Sales Discounts $150,000

2. Prepare a journal entry : Waren Sports Supply had only one depreciable asset, a building. The building was purchased in 2010 for $5,400,000, with a salvage value of $900,000. It has an estimated life of 30 years. Calculate the annual depreciation for the year ended 12/31/17. Use typical account names

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