Q2- Expand Furniture Store has credit sales of $400,000 in 2016 and a debit balance of $600 in the Allowance for Doubtful Accounts at year end. As of December 31, 2016, $130,000 of accounts receivable remain uncollected. The credit manager prepared an aging schedule of accounts receivable and estimates that $7,000 will prove to be uncollectible. On March 4, 2017, the credit manager authorizes a write-off of the $1,200 balance owed by Ahmad Instructions Prepare the adjusting entry to record the estimated uncollectible accounts expense in 2016. Show the balance sheet presentation of accounts (a) (b) receivable on December 31, 2016. (c) On March 4, before the write-off, assume the balance of Accounts Receivable account is $160,000 and the balance of Allowance for Doubtful Accounts is a credit of $3,000. Make the appropriate entry to record the write-off of the Ahmad account. Also show the balance sheet presentation of accounts receivable before and after the write-off.

Can you also send me how to do this one? 2. Refer to the data below for XYZ Corporation.   Credit sales during 2018 850,000   Accounts Receivable—January 1, 2018 334,000 Collections from credit customers during 2018 725,000 Estimated uncollectible accounts based on an aging analysis 13,200 Customer accounts written off as uncollectible during 2018 12,000 Allowance for doubtful accounts 1,700(after write-off of uncollectible accounts) Answer the following questions using the above data: A. What is the balance of Accounts Receivable at December 31, 2018? B. If the aging approach is used to estimate bad debts, what should the balance in Allowance for Doubtful Accountsbe after the bad debts adjustment? C. If the aging approach is used to estimate bad debts, what amount should be recorded as bed debts expense for2018?

A company must decide between scrapping or reworking units that do not pass Inspection. The company has 10,000 defective units that have already cost $132,000 to manufacture. The units can be sold as scrap for $31,000 or reworked for $45,000 and then sold for $85,000. (a) Prepare a scrap or rework analysis of Income effects. (b) Should the company sell the units as scrap or rework them? (a) Scrap or Rework Analysis Revenue from scrapped/reworked units Cost of reworked units Income Incremental income (b) The company should: Scrap Rework

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8. JOY Corporation provides an allowance for its doubtful accounts receivable. allowance account had a credit balance of P8,000. Each month JOY accrues bad debts expense in an amount equal to 2% of credit sales. Total credit sales during 2016 amounted to P2,000,000. During 2016 uncollectible accounts receivable totaling P22,000 were written off against the allowance account. An aging of accounts receivable at December 31, 2016 indicates that an allowance of P42,000 should be provided for doubtful accounts as of the date. Accordingly, bad debts expense previously accrued during 2016 should be increased by At December 31, 2015, the