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Carla Vista Company is a furniture retailer and uses the perpetual inventory system. On January 14, 2022, Carla Vista purchased merchandise inventory at a cost of $43,000. Credit terms were 2/10, n/30. The inventory was sold on account for $73,000 on January 21, 2022. Credit terms were 1/10, n/30. The accounts payable was settled on January 23, 2022, and the accounts receivables were settled on January 30, 2022. Prepare journal entries to record each of these transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost good sold) + The Whispering Winds Corp. uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 7% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2021, and December 31, 2022, appear below: Net Credit Sales Accounts Receivable Allowance for Doubtful Accounts 12/31/2021 $400,000 86,000 5,000 12/31/2022 $543,000 190,000 7 Record the following events in 2022. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) Aug. 10 Sept. 12 Oct. 10 Determined that the account of Kurt West for $1,100 is uncollectible. Determined that the account of Jill Lynch for $2,500 uncollectible. Received a check for $460 as payment on account from Kurt West, whose account had previously been written off as uncollectible. Date Account Titles and Explanation Debit Credit (To reinstate Kurt West account previously written off) (To record collection) Cheyenne Corp. purchased a new machine on October 1, 2022 at a cost of $83,200. The company estimated that the machine has a salvage value of $6,400. The machine is expected to be used for 64,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Straight-line for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal place, e.g. 1520.) 2022 2023 Straight-line method Declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Declining-balance method Units-of-activity for 2022, assuming machine usage was 2,320 hours. (Round depreciation per unit to the nearest cent.) Units-of-activity method 2022 $ A machine costing $171200 was destroyed when it caught fire. At the date of the fire, the accumulated depreciation on the machine was $77000. An insurance check for $203100 was received based on the replacement cost of the machine. The entry to record the insurance proceeds and the disposition of the machine will include a credit to the Equipment account for $126100. O credit to the Accumulated Depreciation account for $77000. gain on disposal of $108900. gain on disposal of $31900

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