Canvas A Question D Question 13 Question 28 pts Question Question Problem 2: Analysis and Correction of Accounting Errors Quest Quest Bothell Corporation began operations, on December 31, 2019. The controller for Bothell Corporation is concerned about certain business transactions that the company detected during 2021. The transactions at issue are presented below. Time Runnin A. The company has mistakenly recognized bad debt expense when the receivables have actually become uncollectible in the following Attempt due: amounts: 2 Hours, 29 2020 2021 31,800 65,000 The controller estimates that bad debt expense based on a GAAP accepted method (the percentage-of-accounts receivable) should be $54,000 for 2020, and $83,000 for 2021. B. Inventory has been shipped on consignment. These transactions have been mistakenly recorded as ordinary sales and billed as such on account. Inventory billed and in the hands of consignees amounted to $280,000 at December 31, 2020, and $425,000 at December 31, 2021. The cost of goods sold is 80% of the selling price in each year. Assume that all the consigned inventory is sold in the following year. The company uses the perpetual inventory system. C. Ending inventory was overstated by $8,000 on December 31, 2020, and overstated by $5,000 on December 31, 2021. D. On January 1, 2020, a truck was purchased for $28,000. The truck had an estimated life of eight years, but it was immediately expensed by error. The acquisition cost should have been capitalized, and straight-line depreciation should have been used with $2,000 estimated salvage value. Assuming that the accounting books of 2021 have not been closed, prepare the journal entries necessary at December 31, 2021 (ignore income tax effect) for the situations. Edit Format Table ... B I U . A V Q V T V D 12pt V Paragraph