Ervin Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2021, net credit sales totaled $4,500,000, and the estimated bad debt percentage is 1.5%. No previously written-off accounts receivable were reinstated during 2021. The allowance for uncollectible accounts had a credit balance of $42,000 at the beginning of 2021 and $40,000, after adjusting entries, at the end of 2021.Required:1. What is bad debt expense for 2021 as a percent of net credit sales?2. Assume Ervin makes no other adjustment of bad debt expense during 2021. Determine the amount of accounts receivable written off during 2021.3. If the company uses the direct write-off method, what would bad debt expense be for 2021?

Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The uncollectible percentage is 2.3% for the income statement method, and 3.6% for the balance sheet method. Record the year-end adjusting entry for 2018 bad debt using the income statement method. Record the year-end adjusting entry for 2018 bad debt using the balance sheet method. Assume there was a previous debit balance in Allowance for Doubtful Accounts of $10,220, record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $5,470, record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method.

Sheffield Corp. had a $300 credit balance in Allowance for Doubtful Accounts at December 31, 2022, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $110,000 1 % 1-30 days past due 18,000 3 % 31-60 days past due 13,500 5 % 61-90 days past due 7,600 17 % Over 90 days past due 9,400 31 % Total Accounts Receivable $158,500 PART A Prepare the adjusting entry on December 31, 2022, to recognize bad debts expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubtful Accounts PART B I NEED HELP WITH PART B Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $300 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision…

Mckinney & Co. estimates its uncollectible accounts as a percentage of credit sales. Mckinney made credit sales of' $1,500,000 in 2019. Mckinney estimates 2.5% of its sales will be uncollectible. Prepare the journal entry to record bad debt expense for McKinney at the end of 2019.