Gilmore Electronics had the following data for a recent year:

Cash sales

Credit sales

$$135,000$

The firm's estimated rate for bad debts $0\mathrm{.}0255$

Prepare the general journal entry to writ $2\mathrm{.}55\%$ of credit sales.

$512,000$

$\backslash$table$[[$Date$,$Description,PR$,$Debit,Credit$],[,,,,],[,,,,],[,,,,]]$

Sampson Inc uses the aging method to write off bad debt. Accounts receivable determined to be uncollectible using the aging method is $$9,650.$ The company has a credit balance of $$200$ in the Allowance for doubtful accounts account. Prepare the journal entry to record the write off.

$\backslash$table$[[$Date$,$Description,PR$,$Debit,Credit$],[,,,,],[,,,,],[,,,,]]$

Dixon Inc uses the aging method to write off bad debt. Accounts receivable determined to be uncollectible using the aging method is $$12,200.$ The company has a debit balance of $$1,200$ in the Allowance for doubtful accounts account. Prepare the journal entry to record the write off.

$\backslash$table$[[$Date$,$Description,PR$,$Debit,Credit$],[,,,,],[,,,,],[,,,,]]$

Mom and Pop Shop Inc. uses the direct write off method for writing off bad debt. They just learned that Smith Inc. will not be able to pay their $$420$ accounts receivable bill. Prepare the journal entry to record the write off.

$\backslash$table$[[$Date$,$Description,PR$,$Debit,Credit$],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]$

The interest on a $$4,200,6\mathrm{.}5\%,5-$month note is:

The net realizable value equals the gross amount of: