{Problem 11 On July 1, 2020, SolElectronics Co. sold 20 units of PC on account to SB University at $1,000 per unit. Payment term is 2:10, n130. The cost of PC sold is $700 per unit. IDn july 4, WS returned two PCs. On July 11, SolElectronics received the balance due from SE University. Please prepare journal entries to record the transactions above. {Problem 2) SolElectronics Co. is preparing 2020 financial statements. During 2020. SolElectronics made $3,500,000 credit sales. Its accounts receivable and allowance for doubtful accounts balances on December 31, 2020 before making any adjusting entries are as follows: Accounts receivable 450,000 {Debit} Allowance for doubtful accounts 1,500 {Debit} Management estimates that 3% of accounts receivable will be uncollectible. (a) Please prepare an adjusting journal entry to record bad debt expense for 2020. On February 15th, 2021, Lucky Store, one of its customers, filed bankruptcy and the SolElectronics management determines that its unpaid accounts receivable $4,500 should be written off. lb} Please prepare the journal entry for write-off On April 1, Lucky informed that a new investor injected cash to the company and it is paying back $4,500. to) Please prepare the journal entry for the receipt of $4,500. {Problem 31 If SolElectronics Co uses the percentageofsales method to estimate bad debt expenses and it estimates that 1.5% of credit sales will be uncollectible, what will be the adjusting journal entry to record bad debt expense on December 31, 2020