2 & 3

2 Single Sheet Printing completed a printing job for Sea Florse Boats. At the completion of the job, May 11, Single Sheet invoiced Sea Horse \$15,625 and extended them terms of 3/15, net 45 . How much should Sea Horse remit to Single Sheet on May 22? How much should Sea Forse remit on June 23? 2 New Airport Marine had the following amounts owed to them: Prepare an accounts receivable aging for New Airport Marine. 3 Management of New Aimport reviewed their bad debts over the last few years and have determined that the following percentages are a fair estimate of collectability. Using the aging totals from exercise 2 above, determine the balance in the allowance for uncollectible accounts. Prepare the entry to record the bad debts expense if the balance in the allowance account is 0. Prepare the entry to record the bad debts expense if the balance in the allowance account is $2,500. Prepare the entry to record the bad debts expense if the balance in the allowance account is $550 (debit balance). \begin{tabular}{|l|l|l|l|} \hline & & Dr & Cr \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 4 On March 12, Single Sheet Printing had completed a large printing job, \$25,500 for Ace Card Company. Ace required longer than normal terms of payment so Single Sheet agreed to accept a 120 day note receivable from Ace bearing interest at 6%. Determine the due date of the