Solutions to problems in photos?

ESSAY. Write your answer in the space provided or on a separate sheet of paper. 22) Prepare the adjusting journal entry of Bad Debts Expense from the following information using the income statement approach. Net Sales for the year Balance in the allowance account Estimated percentage of sales uncollectible Estimated uncollectible accounts-aging $300,000 500 credit 1% $2,000 23) Prepare the adjusting journal entry for Bad Debts Expense from the following information using the balanoe sheet approach. Net Sales for the year Balance in the allowance account Estimated percentage of sales uncollectible $250,000 500 credit 1% 3,000 nated uncollectible accounts-aging 24) Prepare general journal entries to record the following transactions for the Collins Company. (The company uses the income statement approach for recording bad debts expense) 200x Dec. 31 Recorded Bad Debts Expense, $1,000 200x Jan. 3 Wrote off B. Toms's account as uncollectible, $50 Mar. 4 Wrote off A. Green's account as uncollectible,$75 Jul. 5 Recovered $40 from A. Green Aug. 19 Wrote off M. Moss's account as uncollectible, $130 Nov. 7 Recovered $25 from B. Toms 25) Mid-lowa Internet Service uses the direct write-off method for recording bad debts. Joumalize the following transactions for Mid-lowa 200x Mar. 13 Wrote off P. Book's account for $180 Apr. 17 Wrote off C. Catron's account for $75 Jul. 5 Recovered $50 from C. Catron 200x Jan. 9 Recovered $180 from P. Book Extra Credit Problenm I balance sheet for the Meredith Company at December 31, 200x, from the following 26) Prepare a information: Cash $10,000 6,000 1,400 1,800 200 Bad Debts Expense Merchandise Inventory Allowance for Doubtful Accts