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I) The trial balance before adjustment of Rodriguez Inc. shows the following balances. Accounts Receivable...

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I) The trial balance before adjustment of Rodriguez Inc. shows the following balances. Accounts Receivable $160,000 (Dr.) Allowance for Doubtful Accounts $3,000 (Cr.) Sales (net, all on credit) $500,000 (Cr.) Required: Compute the amounts roquired and put them in the appropriate place blow. Show and label your work clearly, Bad Debt Expense when the company estimate bad debts at 2% of net sales Bad Debt Expense when the company estimate bad debts at 5% of gross accounts receivable IT) Rodriguez Inc. transferred $ 3.000 of accounts receivable to CATS Bank. The transfer was made with recourse. CATS Bank retains the amount equal to 10% of accounts receivable to cover sales discounts, returns, and allowances. When CATS Bank collects the receivables, it will also assess a finance fee equal to 1% of the total amount factored. The recourse liability has a fair value of $ 200. The transaction is to be recorded as a sale. Required: Prepare the journal entry that Rodriguez Inc, would record when it transfers the receivables to CATS Bank. Show your work and label Dr. and Cr. clearly. Journal entry

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