Prepare journal entries related to bad debt expense, and compute ratios.

accounts receivable $600,000 less: allowance for doubtful accounts 37,000 during 2022, the company had the following transactions related to receivables.

1. sales on account $2,500,000
2. sales returns and allowances 50,000
3. collections of accounts receivable 2,200,000
4. write-offs of accounts receivable deemed uncollectible 41,000
5. recovery of bad debts previously written off as uncollectible 15,000

instructions
a) prepare the journal entries to record each of these five transactions. assume that no cash discounts were taken on the collections of accounts receivable. (omit cost of goods sold entries.)
b) enter the january 1, 2022, balances in accounts receivable and allowance for doubtful accounts, post the entries to the two accounts (use t-accounts), and determine the balances. a/r bal. $809,000
c) prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000.
d) compute the accounts receivable turnover and average collection period.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?