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Question O (o points) Page 1: 1 2 3 Hector Enterprises accepts cash and debit cards for most sales transactions. But they do offer trade accounts receivable to select customers. The June month end is fast approaching, and they wish you to determine the proper entry to account for bad debts. Use the information below to determine the appropriate entry: 4 5 6 Total Sales Cash sales Debit card sales Sales on Account: S 980,590 $ 509,907 $ 156,894 ??? Bad Debt % on sales on account 396 Accounts Receivable ending balance S Allowance for Doubtful Accounts opening balance S Accounts written off this period $ 23,830 DR 4,297 CR 703 Accounts Receivable Current 30-60 days 60-90 days Over 90 days Aging Bad Debt % 4596 4% 31% 5% 1896 12% 6% 62% Main Content 100% 9:31 AM 2021-12-13 n ENG -13C A O RI 9 ype here to search DOLL De Ver FN2 SEK F10 FB FO FO Dach F7 F5 F3 FA F2 & * s 8 % 7 a $ 4 5 6 3 2 R A T o E Page 1 Accounts Receivable ending balance S Allowance for Doubtful Accounts opening balance s Accounts written off this period S 1 2 3 23,830 DR 4,297 CR 703 Aging 4 5 6 Accounts Receivable Current 30-60 days 60-90 days Over 90 days Bad Debt 4596 4% 31% 596 18% 12% 6% 62% 100% A) Prepare the journal entries for the company to write-off accounts and record bad debt, assuming the Income Statement Approach. Show all calculations. B) What would be the net Accounts Receivable on the Balance Sheet after preparing your journal entry from A)? Paragraph V B I U A/ E + v bloo Lato (Recom V 19px... Ea E la ENG A -13C 9:31 AM 2021-12-13 OBI 9 e here to search DOLL DESEK EN2 WEN FNO FO FB F7 FO FS P FA F3 o R * $ @ 8 8 % 5 7 6 3 P R T E

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