JP Samuel Systems, is a software development company that recently reported the following amounts $($in thousands$)$ in its unadjusted

trial balance as of February $28,2019.$

Required:

Assume JP Samuel uses $\frac{1}{4}$ of $1$ percent of revenue to estimate its bad debt expense for the year. Prepare the adjusting journal entry

required at February $28$ for recording Bad Debt Expense.

Assume instead that JP Samuel uses the aging of accounts receivable method and estimates that $$7,000($thousand$)$ of Accounts

Receivable will be uncollectible. Prepare the adjusting journal entry required at February $28$ for recording bad debt expense.

TIP: The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Accounts balance

should be$.$ You need to consider the existing balance when determining the adjustment.

Assume that the unadjusted balance in JP Samuel's Allowance for Doubtful Accounts at February $28$ was a debit balance of $$1,400$

$($thousand$).$ JP Samuel uses the aging of accounts receivable method and estimates that $$7,000($thousand$)$ of Accounts Receivable

will be uncollectible. Prepare the adjusting journal entry required at February $28$ for recording bad debt expense.

If one of JP Samuel's customers declared bankruptcy, what journal entry would be used to write off its $$700($thousand$)$ balance?

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

Assume JP Samuel uses $\frac{1}{4}$ of $1$ percent of revenue to estimate its bad debt expense for the year. Prepare the adjusting journal entry

required at February $28$ for recording Bad Debt Expense. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry

Required" in the first account field. Enter your answers in whole dollars, rather than in thousands of dollars $($e$.$g$.$ $$4$ would be entered as

$$4,000.)$