Please, I need to see how to solve this in excel and I have a pretty short time to do al the solve by myself. Thank you for your help.I am asking if you can please separate to don't get confused with these problems... **EX 9-5: Entries to Write Off Accounts Receivable**Creative Solutions Company, a computer consulting firm, has decided to write off the $11,750 balance of an account owed by a customer, Wil Treadwell. Journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used.---**Instructions for Educational Context:**This exercise involves determining how to record the write-off of an uncollectible account using two different accounting methods: the direct write-off method and the allowance method. 1. **Direct Write-Off Method**: - This method involves directly debiting Bad Debt Expense and crediting Accounts Receivable for the specific amount written off.2. **Allowance Method**: - This method requires estimating uncollectible accounts at the end of each period, debiting Allowance for Doubtful Accounts, and crediting Accounts Receivable when a specific account is determined to be uncollectible.Understanding these methods is essential for accurate financial reporting and compliance with accounting standards. **PE 8-2A: Items on Company's Bank Statement**The following items may appear on a bank statement:1. Bank correction of an error from recording a $6,200 deposit as $2,6002. EFT payment3. Note collected for company4. Service chargeUsing the following format, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account:| Item No. | Appears on the Bank Statement as a Debit or Credit Memo | Increases or Decreases the Balance of the Company’s Bank Account ||----------|-------------------------------------------------------|------------------------------------------------------------------|| | | |---**PE 8-3A: Bank Reconciliation**The following data were gathered to use in reconciling the bank account of Eves Company:- Balance per bank: $9,350- Balance per company records: $8,510- Bank service charges: $35- Deposit in transit: $2,350- NSF check: $1,875- Outstanding checks: $5,100a. What is the adjusted balance on the bank reconciliation?b. Journalize any necessary entries for Eves Company based on the bank reconciliation.

Journal entry to record the write off using direct write off method and allowance method:

EX 9-5 Entries to write off accounts receivable OBJ. 3, 4 Creative Solutions Company, a computer consulting firm, has decided to write off the $11,750 balance of an account owed by a customer, Wil Treadwell. Journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used.

EX 9-5 Entries to write off accounts receivable OBJ. 3, 4 Creative Solutions Company, a computer consulting firm, has decided to write off the $11,750 balance of an account owed by a customer, Wil Treadwell. Journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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