Question: Please help me with my lab please I will give thumbs up It is due tomorrow Please help me I just need problem # 2

Please help me with my lab please I will give thumbs up It is due tomorrow Please help me I just need problem # 2 and Problem #3

Please help me with my lab please I will give thumbs up

It is due tomorrow Please help me I just need problem #2 and Problem #3 Problem 2 (11 points) The Accounts Receivable balance

Problem 2 (11 points) The Accounts Receivable balance for Ribbon Consulting is $2,800,000 as of March 31, 2022. Before calculating and recording the month's bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of $35,000. The March 2022 net sales were $38,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a $406,000 estimate for the Allowance for Doubtful Accounts as of March 31, 2022. PART A: PERCENT OF SALES METHOD Assume that Ribbon Consulting uses the percent of sales method to estimate future uncollectible accounts. . What adjusting entry does Ribbon make to record March 2022 Bad Debt Expense? What is Accounts Receivable, net on Ribbon's March 31, 2022 Balance Sheet? $ > What is Bad Debt Expense on Ribbon's March 2022 Income Statement? $ Problem 3 (13 points) Use Whirlpool Corporation's financial statement information to answer the following questions. a. Provide the following account balances for Whirlpool (4 points): + December 31, 2021 December 31, 2020 Accounts Receivable (gross) Allowance for Doubtful Accounts Accounts Receivable, net b. Which of the above numbers represents the total amount Whirlpool is owed by customers as of December 31, 2021? (1 point) C. Which of the above numbers represents the amount that Whirlpool believes it will not collect from its customers as of December 31, 2021? (1 point) d. Which of the above numbers represents the amount that Whirlpool believes it will collect from its customers as of December 31, 2021? (1 point) b. Which of the above numbers represents the total amount Whirlpool is owed by customers as of December 31, 2021? (1 point) c. Which of the above numbers represents the amount that Whirlpool believes it will not collect from its customers as of December 31, 2021? (1 point) d. Which of the above numbers represents the amount that Whirlpool believes it will collect from its customers as of December 31, 2021? (1 point) e. Provide the journal entry (both accounts and amounts) that Whirlpool must have made to record its estimate of Bad Debt Expense in 2021. (3 points) + f. Provide the journal entry (both accounts and amounts) that Whirlpool must have made to record Accounts Receivable writeoffs in 2021. (3 points)

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