Hello can you help to solve questions in the attach thanks ATTACHMENT PREVIEW Download attachment 4.docx Q 1. The trial balance before adjustment of XYZ Company reports the following balances: Dr. $100,000 Accounts receivable Allowance for doubtful accounts Sales (all on credit) Sales returns and allowances Cr. $ 2,500 750,000 40,000 Instructions Prepare the entries for estimated bad debts assuming that doubtful accounts are estimated to be (1) 6% of gross accounts receivable and (2) 1% of net sales. Q2. During June, the following changes in inventory item 29 took place: June 1 14 24 8 10 29 Balance Purchased Purchased Sold Sold Sold 1,400 units @ $24 900 units @ $36 700 units @ $30 400 units @ $50 1,000 units @ $40 500 units @ $44 Perpetual inventories are maintained in units only. Instructions What is the cost of the ending inventory for item 29 under the following methods? (Show calculations.) (a) FIFO. (b) Average Cost. Q3Ahmed Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: (a) Purchased merchandise costing $900 with terms 2/10, n/30. (b) Payment was made thirty days after the purchase. Q4. Sales and purchases of company XYZ for the year 2010 had been $1,400,000 and $980,000, respectively. The beginning inventory (Jan. 1, 2010) was $170,000; XYZ’s gross profit is 40% of selling price. Instructions Compute the cost of ending inventory.