I need help with three problems please see attached files.

Problem I Journal Entries for Bad Debt Expense A trial balance before adjustment included the following: Debit $120,000 Accounts receivable Allowance for doubtful accounts Sales Sales returns and allowances Credit $730 $510,000 $8,000 Give journal entries assuming that the estimate of uncollectible is determined by taking the value as given below: 5% of gross accounts receivable. 1% of net sales. Problem II Lower-of-cost-or-market Computations The December 31, 2012 inventory of Gwynn Company consisted of four products, for which certain information is provided below: Product Original Replacement Cost Cost A B C D $25.00 $42.00 $120.00 $16.00 $22.00 $40.00 $115.00 $15.80 Estimated Expected Normal Disposal Selling Profit Cost Price on Sales $6.50 $37.50 20% $12.00 $48.00 25% $25.00 $160.00 30% $3.00 $22.00 10% Using the lower-of-cost-or-market approach applied on an individual-item basis, you are required to do the following: Compute the inventory valuation that should be reported for each product on December 31, 2012. Problem III Value of Inventory Computation by Gross Profit Method On December 31, 2012, Felt Company's inventory burned. Sales and purchases for the year had been $1,600,000 and $980,000, respectively. The beginning inventory (Jan. 1, 2012) was $170,000; in the past Felt's gross profit has averaged 40% of selling price. Using the above information, you are required to do the following: Compute the estimated cost of inventory burned. Give entries as of December 31, 2012 to close merchandise accounts. Support your responses with examples. Cite any sources in APA format