Anastasia Inc. identifies the following items as possibly be…

Anastasia Inc. identifies the following items as possibly belonging in its physical inventory count. For each item, indicate if Anastasia should or should not include the item in the inventory. If Anastasia should include the item in the inventory, then answer TRUE. If Anastasia should NOT include the item in the inventory, then answer FALSE. Goods held on consignment by Anastasia from another company

The following information is available for Nature’s Best Cor…

The following information is available for Nature’s Best Corporation about the age of its receivables at December 31, its year end:   Number of days outstanding  Accounts Receivable($) Estimated percentage uncollectible 0-30                                                               $400,000       3% 31-60                                                             $240,000       5% 61-90                                                             $200,000       10%                                      Over 90                                                        $80,000          15%                                                  Instructions (a)   Using the above aging schedule, determine the total estimated uncollectible accounts. Enter the total rounded to the nearest whole dollar and do not include dollar sign or commas. Example: Enter $5,000.50 as 5001 (b)   Assuming that Allowance for Expected Credit Losses has an unadjusted credit balance of $16,000, prepare the journal entry to record credit losses at December 31. Type out your journal entry and specify Dr. and Cr. Example: Dr. Cash 1000 Cr. Accounts Payable 1000 (c)   Assuming that Allowance for Expected Credit Losses has an unadjusted debit balance of $8,400, prepare the journal entry to record credit losses at December 31. Type out your journal entry and specify Dr. and Cr. Example: Dr. Cash 1000 Cr. Accounts Payable 1000