Question: This js all one question. Please help On October 31, Rosebud, Inc., had a $160,000 debit balance in Accounts receivable. During November, Rosebud, Inc., had

This js all one question. Please help
This js all one question. Please help On October 31, Rosebud, Inc.,
had a $160,000 debit balance in Accounts receivable. During November, Rosebud, Inc.,
had the following transactions: i. (Click the icon to view the transactions.)
Read the requirements. Requirement 1. Assume that Rosebud, Inc., uses the allowance
method to account for uncollectible accounts and that the Allowance account had
a $12,800 credit balance on October 31. Prepare journal entries to record
sales (ignore cost of goods sold), collections on account, and write-offs of
uncollectible accounts for the month of November. Next, assuming that bad debt
expense is estimated at 2 percent of credit sales, prepare the adjusting
journal entry to record bad debts expense. Enter the beginning balances and
post all November activity in T-accounts for Accounts receivable, Allowance for uncollectible

On October 31, Rosebud, Inc., had a $160,000 debit balance in Accounts receivable. During November, Rosebud, Inc., had the following transactions: i. (Click the icon to view the transactions.) Read the requirements. Requirement 1. Assume that Rosebud, Inc., uses the allowance method to account for uncollectible accounts and that the Allowance account had a $12,800 credit balance on October 31. Prepare journal entries to record sales (ignore cost of goods sold), collections on account, and write-offs of uncollectible accounts for the month of November. Next, assuming that bad debt expense is estimated at 2 percent of credit sales, prepare the adjusting journal entry to record bad debts expense. Enter the beginning balances and post all November activity in T-accounts for Accounts receivable, Allowance for uncollectible accounts, and Bad debt expense. Begin by preparing the joumai entries. (Record debits first, then credits. Exclude explanations from any joumal entries.) Start by journalizing the entry to record sales of $490,000, all on credit. Collections on account, $425,000. Write-offs of uncollectible receivables, $11,000, using the allowance method. Assuming that bad debt expense is estimated at 2% of credit sales, prepare the adjusting journal entry to record bad debt expense. Enter the beginning balances, post all November activity in T-accounts for Accounts receivable, Allowance for uncollectible accounts, and Bad debt expense, and then calculate the ending balance of each account. Select the appopriate description as a posting reference for each amount entered into the T-accounts. On October 31, Rosebud, Inc., had a $160,000 debit balance in Accounts receivable. During November, Rosebud, Inc., had the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 2. Suppose that instead of the allowance method, Rosebud, Inc., uses the direct write-off method to account for uncollectible receivables. Prepare journal entries to record sales, collections on account, and write-offs of uncollectible accounts for the month of November. Enter the beginning balances and post all November activity in T-accounts for Accounts receivable and Bad debt expense. Begin by preparing the journal entries. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by journalizing the entry to record sales of $490,000, all on credit. Collections on account, $425,000. Write-offs of uncollectible receivables, $11,000, using the direct write-off method. Enter the beginning Accounts recelvable balance, post all November activity in T-accounts for Accounts receivable and Bad debt expense, and then calculate the ending balance of each account. Select the appopriate description as a posting reference for each amount entered into the T-accounts. Requirement 3. What amount of bad debt expense would Rosebud, Inc., report on its November income statement under each of the two methods? Which amount better matches expenses with revenue? Give your reason. Bad debt expense under the better matches expenses with revenue because the expense is recorded Requirement 4. What amount of net accounts receivable would Rosebud, Inc., repok on its November 30 balance sheet under each of the two methods? (Complete all answer boxes. If an account has a zero balance, enter a "0".) Requirement 4. What amount of net accounts recelvable would Rosebud, Inc., report on its November 30 balance sheet under each of the two methods? (Complete all answer boxes. If an account has a zero balance, enter a "0".) Which amount is more realistic? Give your reason. Net accounts receivable under the is more realistic because it shows the amount of the receivables that the company

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