ent Your answer is partially correct. Try again. Record the following transactions on the books of Skysong, Inc. (Omit cost of goods sold entries.) (Credit account title manually. (a) On July 1, Skysong, Inc. sold merchandise on account to Stacey Inc. for $22,200, terms 4/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Skysong, Inc.. (c) On July 11, Stacey Inc. paid for the merchandise. No. Date (a) July 1 Account Titles and Explanation Accounts Receivable Sales Revenue Julys Sales Returns and Allowances Accounts Receivable 2400 (c) July 11 Cash Sales Discounts Accounts Receivable IT L 20196 Click if you would like to show Work for this question: Deen Show 000-2017 W a ni Al Rights a we DELL CALCULATOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 8-5 your answer is partially correct. Try again. the year, and the allowance for doubtful accounts has a credit balance of $2,872. Skysong, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of accounts receivable will become uncollectible. Accounts receivable are $376,600 at the end of (a) Prepare the adjusting journal entry to record bad debt expense for the year (b) If the allowance for doubtful accounts had a debit balance of $961 instead of a credit balance of $2,872, prepare the adjusting journal entry for bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation (a) ed Debt Expense Allowance for Doubtful Accounts (b) Bad Debt Expense Allowance for Doublul Accounts 16 Click if you would like to Show Work for this question Open house INTERACTIVE TUTORIA 12 Reserved. A D of the a 9 W x 0p Version 4.24, +1 1016 7/12/ CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 811 Suppose the 2017 mandal statement of Company report net sales of $21.1 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.34 billion at the end of the year. Your answer is correct. Computer Company's erable turnover (How T hietver Como Com o send for by (ound to 125 165 de for Check you would be to Show Work for this questio n s a W P Brief Exercise 8-7 Your answer is partially correct. Try again. Compute interest and find the maturity date for the following notes. (Round answers to decimal places, e.g. 825) Interest Rate(%) Date of Note June 10 July 14 April 27 (a) (b) (c) Principal 584,110 $54,900 $12,670 69 790 Terms 60 days 90 days 75 days 8% (0) Interest 3411 Maturity Date August 9 (b) 950.73 October 12 12 208:27 July 11 Click if you would like to Show Work for this is question HOWLIT OR ACCOUNTS a w x @ P