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ASSIGNMENT INFORMATION Points Possible 100 153. A company that uses the percent of sales to...

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ASSIGNMENT INFORMATION Points Possible 100 153. A company that uses the percent of sales to account for its bad debts had crecht sales of 740,000 in Year 1. including a $720 sale to Helen Sweet On December 31, Year I the company estimated its buid debts at 1.5% odes credit sales on June 1. Yen 2. the company wrole off, as uncollectible, the 5720account of Helen Sweet On December 21, Year 2. Helen Sweet unexpectedly paid her account in full. Prepare the necessary Journal entries (a) On December 31, Year 1 to reflect the estimate of bad debts expense. (6) On June 1. Year 2, to write off the bad debt (c) on December 21, Year 2. to record the unexpected collection ASSIGNMENT SUBMISSION Text Submission Cance Dalt

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