2.500,000 200,000 75.000 Gross sales Inventory, ending Sales returns and allowarices The Allowance Method Morrison Company used the allowance method and had the beginning balance of $50,000 for Al- lowance for Bad Debts. Morrison estimated that the ending balance of Allowance for Bad Detes was $100,000. In addition, a year-end review of accounts identified that as of the end of the year, S45 were worthless because the business customers associated with those accounts had gone bankrup Using the allowance method of accounting for bad debt expense, make the journal entries necessary to record () bad debt expense for the year and (2) the write-off of uncollectible accounts at of the year Computing Net Accounts Receivable Refer to the data in PE 6-11. Taking into account the allowance for bad debts established at the end of the year, compute the net realizable value of accounts receivable (1) before the write-off of ible accounts and (2) after the write-off of uncollectible accounts. uncollect- Collecting an Account Previously Written Off Refer to the data in PE 6-11. Assume that one customer, whose account had previously been written off, returned from exile in the Bahamas and paid his account of S7.000. Make the journal entry or entries necessary to record the receipt of this payment. Estimating Uncollectible Accounts Receivable As a Percentage of Total Receivables y had an Accounts Receivable balance of $102,000 and an Allowance for Bad Debts es for the year Joplin Compan balance of $2.700 (credit) at the end of the year (before any adjusting entry). Credit sal totaled $910,000. The accountant determined that 9% of the ending accounts receivable will ultimately Make the journal entry necessary to record bad debt expense for the year b 2.500,000 200,000 75.000 Gross sales Inventory, ending Sales returns and allowarices The Allowance Method Morrison Company used the allowance method and had the beginning balance of $50,000 for Al- lowance for Bad Debts. Morrison estimated that the ending balance of Allowance for Bad Detes was $100,000. In addition, a year-end review of accounts identified that as of the end of the year, S45 were worthless because the business customers associated with those accounts had gone bankrup Using the allowance method of accounting for bad debt expense, make the journal entries necessary to record () bad debt expense for the year and (2) the write-off of uncollectible accounts at of the year Computing Net Accounts Receivable Refer to the data in PE 6-11. Taking into account the allowance for bad debts established at the end of the year, compute the net realizable value of accounts receivable (1) before the write-off of ible accounts and (2) after the write-off of uncollectible accounts. uncollect- Collecting an Account Previously Written Off Refer to the data in PE 6-11. Assume that one customer, whose account had previously been written off, returned from exile in the Bahamas and paid his account of S7.000. Make the journal entry or entries necessary to record the receipt of this payment. Estimating Uncollectible Accounts Receivable As a Percentage of Total Receivables y had an Accounts Receivable balance of $102,000 and an Allowance for Bad Debts es for the year Joplin Compan balance of $2.700 (credit) at the end of the year (before any adjusting entry). Credit sal totaled $910,000. The accountant determined that 9% of the ending accounts receivable will ultimately Make the journal entry necessary to record bad debt expense for the year b