Styl Insert Format Tools Table Window Help 14%D BUDED Lab 6 fall 2020 - Compatibility Mode - Saved to my Mac agn Layout References Mailings Review View Table Design Layout Tell me 72 + Aav A 21 ACDC AaBb anche [ x 2 A Nam Na Song ang Heading 2 Par Problem 2 (11 points) The accounts receivable balance for Tina Corporation is $3,200,000 as of October 31, 2020. Before calculating and recording the month's bad debt expense, there is a credit balance in the Allowance for Doubtful Accounts of $50,000. The October 2020 net sales were $24,000,000. In the past several years, 1% of net sales have proven uncollectible. An aging of accounts receivable results in a $260,000 estimate for the Allowance for Doubtful Accounts as of October 31, 2020. PART A: PERCENT OF SALES METHOD Assume that Tina Corporation uses the pereent of sales method to estimate future uncollectible accounts. What adjusting entry does Tina make to record October 2020 Bad Debt Expense? . What is "Accounts Receivable, net" on Tina's October 31, 2020 Balance Sheet? What is "Bad Debt Expense" on Tina's October 2020 Income Statement? FO dis English (United States & 7 8 0 U G Insert Format Tools Table Window Help 14% a 5.5OEB Lab 6 fall 2020 - Compatibility Mode -- Saved to my Mac in Layout References Mailings Review View Table Design Layout Tell me 3 - A A As A 2! | | x x Nam Nacing PART B: ANALYSIS OF RECEIVABLES METHOD Assume that Tina Corporation instead uses the analysis of receivables method to estimate future uncollectible accounts. . What adjusting entry does Tina make to record October 2020 Bad Debt Expense? What is "Accounts Receivable, net" on Tina's October 31, 2020 Balance Sheet? $ . What is "Bad Debt Expense" on Tina's October 2020 Income Statement? 1 LE English (United States O Focus A ON & 7 5 8 9 0 E R . Y U 0