The trial balance before adjustment for Concord Company shows the following balances. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue 1. 2. Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.) To obtain additional cash, Concord factors without recourse $25,700 of accounts receivable with Stills Finance. The finance charge is 12% of the amount factored. 3. Dr. $82,900 2,480 4. Cr. $430,000 To obtain a 1-year loan of $56,600, Concord pledges $67,900 of specific receivable accounts to Crosby Financial. The finance charge is 8% of the loan; the cash is received and the accounts turned over to Crosby Financial. The company wants to maintain the Allowance for Doubtful Accounts at 6% of gross accounts receivable. Based on an aging analysis, an allowance of $5,385 should be reported. Assume the allowance has a credit balance of $1,156.

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The trial balance before adjustment of saturn corp shows the following balances. Dr. P97,400 3,300 Cr. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a P1,857 credit balance. P643,200

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Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 280,000 $ 700,000 In addition, its unadjusted trial balance includes the following items. $ 210,000 debit $ 2,500 debit Accounts receivable Allowance for doubtful accounts 2. Bad debts are estimated to be 2% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: $ 0

View Policies Current Attempt in Progress Assume the following information for Teal Mountain Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off (a) Account Titles and Explanation Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable. (To record sales on account) (To record collection of accounts receivable) Prepare the entries to record sales and collections during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) eTextbook and Media $143.000 List of Accounts 11,340 Save for Later Using multiple attempts will impact your score. 10% scare reduction after attempt 5 930,000 912.000 6,400 2,200…