Spotted Singer Ltd. sells karaoke machines to businesses and consumers via the Internet. On December 31, 2021, Spotted Singer has an accounts receivable balance of $997,000 and a credit balance in its allowance for doubtful accounts of $24,000. During 2022, Spotted Singer had $2,500,000 of credit sales, collected $1,725,000 of accounts receivable, and had customer defaults of $45,000. At year-end, an aging analysis indicates that $28,000 of Spotted Singer's receivables will be uncollectible. Required: 1.  Calculate Spotted Singer's balance in accounts receivable on December 31, 2022, prior to the adjustment.  2.  Calculate Spotted Singer's balance in allowance for doubtful accounts on December 31, 2022, prior to the adjustment.  3.  Prepare the necessary adjusting entry for 2022.

McKinney & Co. estimates its uncollectible accounts as a percentage of credit sales. McKinney made credit sales of $2,400,000 in 2019. McKinney estimates 2.5% of its sales will be uncollectible At the end of the first quarter of 2020, McKinney & Co. reevaluates its receivables. McKinney's management decides that $7,300 due from Mangold Corporation will not be collectible. This amount was previously included in the allowance account. On April 23, 2020, McKinney & Co. receives a check from Mangold Corporation for $7,300. Required: Prepare the journal entries for McKinney to record the collection of the account previously written off

How do you get to the answer for #5.  Answer: 2,525, but I keep getting 2275

A series of unrelated situations follow for several companies that use ASPE: (a)     Larkspur Inc.’s unadjusted trial balance at December 31, 2020, included the following accounts:     Debit   Credit Allowance for doubtful accounts   $8,000     Sales revenue       $2,065,000 Sales returns and allowances   61,300     Sales discounts   3,900     Larkspur estimates its bad debt expense to be 1.5% of net sales. Determine its bad debt expense for 2020. (Round answer to 0 decimal places, e.g. 58,971.) Bad debt expense   $Enter your answer in accordance to the question statement        Save for Later Last saved 23 hours ago. Saved work will be auto-submitted on the due date. Attempts: 0 of 1 used Submit Answer     (b) The parts of this question must be completed in order. This part will be available when you complete the part above.   (c) The parts of this question must be completed in order. This part will be available when…