Other eurnent liabilities 14.200 P7.2 (LO 3) Cmwr (Bad-Debt Reporting) The following are a series of unrelated situations. 1. Ilalen Company's unadjusted trial balance at December 31, 2020, included the following accounts. Debit Credit Accounts receivahle S53.000 Alkowance for doubtful accoants Net sales $1.2000 THalen Company estimates its had debt expense to be % of gross aceounts receivable. Determine its had debt expense for 20. 2. An analysis and aging of Stuart Corp. accounts receivable at December 31, 20o20, disclosed the following Amounts estimated to be umenllectible Aeeounts receivable Allowance for doubrful acenunts (per books) 1.50.0K0 145.MN What is the net amount expected to be collected of Stuart's receivables at December 31, 20ao? 3. Shore Co. provides for doubtful accounts based on 4% of gross accounts receivahle. The following data are available for aao. Credit sales during aao Bad debt expemse Allowance for doubtful aconunts 1/1/2 Collection of accounts written off in prior vears (eustoner eredit was reestablished) Customer acrounts written off as uneollectible during 20 Roo0 What is the halance in Allenwance for Doubtful Accounts at December 31, 2020? 4. At the end of its first year of operations, December 3a, 20an, Darden Inc. reported the folloewing information. Accounts receivable, net of allowance for douhtful acenunts Customer acenents written off as unenllectible during 2020 Bad debt expense for zo2o Susa.o 24.0 What should be the balance in accounts receivable at December 31, aan, before subtracting the allowance for doubtful accounts? S The folinwing accounts were taken from Bullock Inc.'s trial halance at December a, 2o. Debit Credit Net eredit sales Allowance for douhtful acounts $75OOR) $ 14.00 Accounts receivahie f dobeul a nts are yof accounts receivable, determine the had debt expense to be reported for aua instructions An the questions relating to each of the fove independent sitations as requested 10Encel (Rad Debe Reporting-Aging) Maniloe Coporation operates in an industry that has a high rate of had debts. Before any year end adjustments, the balance in Manilow's had a endit a r of S o The sear end halanee reported in the halance shheet for Allowance for Doubtfal Aceunts will be hased on the aging schedule shonn helow Prohability of Collection Days Accouant Outstanding Amount Less than sh days Between 6 and das Between and 4s days Berween anand bo dass Between b and da Overo dos be itt SDOLARO