The employees of xitrex, inc., are paid each friday. the company’s fiscal year-end is june 30, which falls on a wednesday for the current year. salaries are earned evenly throughout the five-day work week, and $19,000 will be paid on friday, july 2. required: 1. prepare an adjusting entry to record the accrued salaries as of june 30, a reversing entry on july 1, and an entry to record the payment of salaries on july 2. 2. prepare journal entries to record the accrued salaries as of june 30 and the payment of salaries on july 2 assuming a reversing entry is not recorded.

Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?