Instruction 1. compute deposits in transit and checks outstanding at june 30 2. prepare proof of cash for june 3. give all journal entries that should account with a credit balance of $ 2,000.prepare a. super credit corporation has an allowance account with a credit balance of $ 2,000 prepare the entry to recognize bad debt expense if: (a) bad debts to recognize bad debt expense if: (b) bad debts are estimated at 4% of account receivable of $ 90,000. shows what the allowance account would look like after these entries. b. blue company engages in the following transaction involving the finance fee is 2% of the loan. may 10: collects $ 30,000 of the receivable and remits it to the bank plus interest. july 10: collects the balance of the receivables minus a $1,500 sales return and pays the balance of the loan, plusinterest.
