Question

I need the answer quickly, please :((((((.. pleaaasssee heeelp mmmeeee// i need all answers, UNIQUE ANSWER please

( i need Unique answer, don't copy and paste, please) (dont' use handwriting, please)

Q.3. The trial balance before adjustment of XYZ Company reports the following balances:

                                                                                        Dr.                  Cr.   

Accounts receivable                                                 $100,000

Allowance for doubtful accounts                                                    $    2,500

Sales (all on credit)                                                                            750,000

Sales returns and allowances                                       40,000

Instructions

            Pass the journal entries for estimated bad debts assuming that doubtful debts accounts are estimated to be

(1)        6% of gross accounts receivable and

(2)        1% of net sales.

( i need Unique answer, don't copy and paste, please) (dont' use handwriting, please)

Answer 1

			Account Receivables	Net Sales
	B	Balance	100000	710000
	A	Estimated Doubtful Debt %	6.00%	1.00%
	A*B	Estimated Doubtful Debt	6000	7100	13100
		Closing Balance in Allowance for Doubtful Debt	13100
		Less: Opening Balance	2500
		Net Charge to PL	10600
	Journal	Bad Debt Expense Account Dr.	10600
		To Allowance for Doubtful Account		10600
		(Being Provision Created)
		Revised Trial Balance:	Dr.	Cr.
		Account Receivables	100000
		Allowance for Doubtful Account		13100
		Sale(All on Credit)		750000
		Sale Returns & Allowances	40000
		Bad Debt Expense	10600