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  3. \#2 (8 points) at december 31 of the current year,

\#2 (8 points) At December 31 of the current year, a company reported the following:...

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Accounting

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\#2 (8 points) At December 31 of the current year, a company reported the following: Total sales for the current year: $5,320,000. Accounts receivable balance at Dec. 31 , end of current year: $450,000 Allowance for Doubtful Accounts balance at Dec. 31: 600 credit 1. Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal: (a) 2.5% of credit sales. (b) 8% of accounts receivable. 2. Prepare the necessary entry to write off J. Mohr's $800 A/R balance. 3. Prepare the necessary entries to record the recovery of J. Mohr's A/R balance when he pays the company at later date. Show work below

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