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1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. 1-b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary journal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer accoun balances. 3. Supply the missing information for 2018. 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net Income have decreased? Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. (Enter your answers in millions.) 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. 1-b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary Joumal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. 3. Supply the missing information for 2018 . 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net Income have decreased? Answer is not complete. Complete this question by entering your answers in the tabs below. Record summary Journal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. (II no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field, Enter vour answers in millions.) Web Wizard, Incorporated, has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts recelvable method. The company entered into the following partial list of transactions during the first quarter. a. During January, the company provided services for $38,000 on credit. b. On January 31 , the company estimated bad debts using 1 percent of credit sales. c. On February 4 , the company collected $19,000 of accounts recelvable. d. On February 15 , the company wrote off $100 account recelvable. e. During February, the company provided services for $28,000 on credit. 4 On February 28 , the company estimated bad debts using 1 percent of credit sales. 9 . On March 1, the company loaned $2,400 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the compony collected $100 on the account written off one month earlier: i. On March 31, the company accrued interest earned on the note. J. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which includes the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts has an unadjusted credit balance of $1,180. A8-4 (Algo) Part 3 Show how Accounts Recelvable, Notes Recelvable, and their related accounts would be reported in the current assets section of a classified balance sheet at the end of the quarter on March 31. (Do not round Intermediate calculations.) n. On March t5, the companty colected 5100 on the occou the note. COn March 3t, the company accrued interest esmed on the note. hased on the following eging anslysis, which includes C. On March 3t, the company aswated for uncolect disted) Pilor to the adjustment. Allownhce for Doubthul Accounts has the preceding tiansinctions cas of $1,180. PA8-4 (Algo) Part 2 2. Prepare the jourmal entries for items (4) to (0 if no entry is required for a transaction/event, select "No Journal Entry Pe the first account field. Do not round intermediate caleulations.) PAB-4 (AIgo) Accounting ror Accounts ana Notes Receivadie Iransactions [LU 8L,LU \&-S] [The following information applies to the questions displayed below.] Web Wizard, Incorporated, has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first. quarter, the company switched to the aging of accounts recelvable method. The company entered into the following partial list of transactions during the first quarter. a. During January, the company provided services for $38,000 on credit. b. On January 31 , the company estimated bad debts using 1 percent of credit sales. c. On February 4, the company collected $19,000 of accounts receivable. d. On Febuary 15 , the company wrote off $100 account recelvable. e. During tebruary, the company provided services for $28,000 on credit. t. On February 28, the company estimated bad debts using 1 percent of credit sales. g. On March 1, the company loaned $2,400 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $100 on the account written off one month earller. 1. On March 31, the company accrued interest earned on the note. f. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which includes the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts has an unadjusted credit balance of $1,180. A8-4 (Algo) Part 4 Sales Revenue and Service Revenue are two income statement accounts that relate to Accounts Recelvable. Name two other accounts related to Accounts Recelvable and Notes Recelvable that would be reported on the income statement and indicate whether each would appear before, or after, Income from Operations. PA8-2 (Algo) Interpreting Disclosure of Allowance for Doubtful Accounts [LO 8-2] Away Travel, disclosed the following rounded amounts (in millions) concerning the Allowance for Doubtful Accounts on its Form 10K ennual report. Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. 1.b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary journal entries for 2017 related to (d) estimating Bod Debt Expense and (b) writing off specific customer account bainces. 3. Supply the missing information for 2018 . 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net income have decreased? Complete this question by entering your answers in the tabs below. Prepere a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balonce at the beginning of each year in the Allowance for Doubtful Accounts is a credit baiance. (Enter your anawers in millione.) 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. 1-b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary journal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. 3. Supply the missing information for 2018 . 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net Income have decreased? Answer is not complete. Complete this question by entering your answers in the tabs below. Record summary journal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field. Enter your answers in millions.)

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