During the year ended December $31,2024,$ Kelly's Camera Shop had sales revenue of $\backslash$$$210,000,$ of which $\backslash (\backslash$$ $105,000\backslash )$ was on credit. At the start of $2024,$ Accounts Receivable showed a $\backslash$$$12,000$ debit balance and the Allowance for Doubtful Accounts showed a $\backslash$$$680$ credit balance. Collections of accounts receivable during $2024$ amounted to $\backslash$$$76,000.$

Data during $2024$ follow:

a$.$ On December $10,$ a customer balance of $\backslash (\backslash$$ $1,900\backslash )$ from a prior year was determined to be uncollectible, so it was written off.

b$.$ On December $31,$ a decision was made to continue the accounting policy of basing estimated bad debt losses on $2$ percent of credit sales for the year.

Required:

$1.$ Give the required journal entries for the two events in December.

$2-$a$.$ Show how the amounts related to Bad Debt Expense would be reported on the income statement.

$2-$b$.$ Show how the amounts related to Accounts Receivable would be reported on the balance sheet.

$3.$ On the basis of the data available, does the $2$ percent rate appear to be reasonable?

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$A

Req $2$B

Show how the amounts related to Bad Debt Expense would be reported on the income statement. Required:

$1.$ Give the required journal entries for the two events in December.

$2-$a$.$ Show how the amounts related to Bad Debt Expense would be reported on the income statement.

$2-$b$.$ Show how the amounts related to Accounts Receivable would be reported on the balance sheet.

$3.$ On the basis of the data available, does the $2$ percent rate appear to be reasonable?

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$A

Req $2$B

Show how the amounts related to Bad Debt Expense would be reported on the income statement. Required:

$1.$ Give the required journal entries for the two events in December.

$2-$a$.$ Show how the amounts related to Bad Debt Expense would be reported on the income statement.

$2-$b$.$ Show how the amounts related to Accounts Receivable would be reported on the balance sheet.

$3.$ On the basis of the data available, does the $2$ percent rate appear to be reasonable?

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Req $2$A

Req $2$B

Req $3$

Show how the amounts related to Accounts Receivable would be reported on the balance sheet.

Data during $2024$ follow:

a$.$ On December $10,$ a customer balance of $\backslash (\backslash$$ $1,900\backslash )$ from a prior year was determined to be uncollectible, so it was written off.

b$.$ On December $31,$ a decision was made to continue the accounting policy of basing estimated bad debt losses on $2$ percent of credit sales for the year.

Required:

$1.$ Give the required journal entries for the two events in December.

$2-$a$.$ Show how the amounts related to Bad Debt Expense would be reported on the income statement.

$2-$b$.$ Show how the amounts related to Accounts Receivable would be reported on the balance sheet.

$3.$ On the basis of the data available, does the $2$ percent rate appear to be reasonable?

Answer is not complete.

Complete this question by entering your answers in the tabs below.

On the basis of the data available, does the $2$ percent rate appear to be reasonable?

Does the $2$ percent rate appear to be reasonable?