# 1 through 6 please and thank you need time as in to answer this or the...

###### Question:

1 through 6 please and thank you need time as in to answer this or the time in the actual problem? thanks again
Problem--Accounts Receivable (4 points each. 24 points total) Mega Multilayered Manufacturing ("Mega") was formed in 2017, and its fiscal year end is December 31st For all of the questions below, assume that on average 10.0% of its accounts receivable and 1.0% of its net credit sales are uncollecti ble (bad debts). 2017 and 2018 On December 31, 2017, Mega had accounts receivable of $200,000, and net credit sales were$2,000,000 for the year then ended. What is the amount of bad debt expense for Fiscal Year Ended December 31, 2017 (put your answers on the Answer Sheets)? 1. Using the Percentage of Receivables Basis 2. Using the Percentage of Sales Basis $200,000 x 10%=$20,000 $2,000,000 x 1% =$20,000 On December 31, 2018 the company had accounts receivable of $400,000, a credit balance in the allowance for doubtful accounts of$20,000, and net credit sales were $4,000,000 for the year then ended. What is the amount of bad debt expense for Fiscal Year Ended December 31, 2018? 3. Using the Percentage of Receivables Basis 4. Using the Percentage of Sales Basis ($400,000 x 10%) - 20,000 20,000 4,000,000 x 1% 40,000 2019 and 2020 The fact pattern is as follows: (1) Allowance for Doubtful Accounts balance as of December 31, 2019 was $40,000; (2) a customer who owed the company$6,000 declared bankruptcy during 2020 and the account was written off; (3) On December 31, 2020 the company had accounts receivable of $600,000; and (4) net credit sales were$6,000,000 for the year 2020. What is the amount of bad debt expense for Fiscal Year Ended December 31, 2020? 5. Using the Percentage of Receivables Basis 600,000 x 10% - (40,000 6,000) 26,000 6. Using the Percentage of Sales Basis 6,000,000 x 1% = 60,000

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