part iat the end of the year the unadjusted trial balance of sista company included 4523654

PART IAt the end of the year, the unadjusted trial balance of Sista Company included the followingaccounts:DEBITCredit SalesAccounts ReceivableAllowance for Doubtful AccountsCREDIT$2,200,000$432,0002,000Using the above information, answer each of the following independent situations.A. If Sista uses the % of Sales Method (the Income Statement Approach) to estimate bad debtexpense, and bad debts are expected to be 1/2% of Sales, the general journal adjusting entry torecord the Bad Debt Expense for the year will be:Account TitleDebitCreditB. If Sista uses the % of Accounts Receivable Method (the Balance Sheet Approach) to estimatebad debt expense, and aging the accounts receivable indicates the estimated uncollectible portion tobe $8,200, the general journal adjusting entry to record the Bad Debt Expense for the year will be:Account TitleDebitCreditPART IIAt the end of the year, the unadjusted trial balance of Sista Company included the followingaccounts:DEBITCredit SalesAccounts ReceivableAllowance for Doubtful AccountsCREDIT$2,200,000$432,0003,500Using the above information, answer each of the following independent situations.A. If Sista uses the % of Sales Method (the Income Statement Approach) to estimate bad debtexpense, and bad debts are expected to be 1/2% of Sales, the general journal adjusting entry torecord the Bad Debt Expense for the year will be:Account TitleDebitCreditB. If Sista uses the % of Accounts Receivable Method (the Balance Sheet Approach) to estimatebad debt expense, and aging the accounts receivable indicates the estimated uncollectible portion tobe $8,200, the general journal adjusting entry to record the Bad Debt Expense for the year will be:Account TitleDebitCreditFor the notes listed below, compute the Maturity Date and the Maturity Value. (Remember that the maturityvalue is the principal of the note plus the interest.)Maturity Value______________________January 15, 2014, 1-year, 16%, $8,000 Note ReceivableMaturity Date____________________________________________April 1, 2014, 8-month, 14%, $6,000 Note ReceivableMay 19, 2014, 48-day, 12%, $5,000 Note Receivable

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