Problem 4 (6 + 4 = 10 points) 1 Walmart Company's ledger at the end of the current year shows Accounts Receivable of $1,500,000. Instructions a If Allowance for Doubtful Accounts has a credit balance of $25,000 in the trial balance and bad debts are expected to be 3% of accounts receivable, journalize the adjusting entry for the end of the period. (3 points) b If Allowance for Doubtful Accounts has a debit balance of $13,000 in the trial balance and bad debts are expected to be 3% of accounts receivable, journalize the adjusting entry for the end of the period. (3 points) DT/CT Account DT Amount CT Amount a b 2 Tenson Company trades old shop equipment (cost $75,000 less $25,000 accumulated depreciation) for new shop equipment. Tenson paid $32,000 cash in the trade. The old shop equipment that was traded had a fair value of $54,000. Prepare the entry to record the exchange of assets by Tenson Company. The transaction has commercial substance. (4 points) DT/CT Account DT Amount CT Amount