Question

Just wanted to check the answers.Upvote guranteed !!!

Multiple Choice Identify the choice that best completes the statement or answers the question. 1. The Parks Department had a year-end review of Accounts Receivable an uncollectible percentages revealed the following: ccounts Receivable and estimated 1-30 days 31-60 days 61-90 days $69,000 $30,000 $12,500 1.9% 13% 32.8% 3900 uloo Amounts over 90 days past due are written off. The credit balance in the Allowance 10 Doubtful Accounts was $1,600. The Bad Debt Expense for the year is: A. $1,600 B. $9,311 C $7,711 D. $10,911 2. Under the allowance method, the entry to write off a $4.000 uncollectible account includes A. Credit to Allowance for Doubtful Accounts for $4,000 B. Credit to Accounts Receivable for $4,000 C. Debit to Bad Debt Expense for $4,000 D. Debit to Accounts Receivable for $4,000 3. The following item appeared on a balance sheet: Receivables, less allowance of ($1,908) $12,000 Bad Debt Expense for the period was $1,290. The gross balance in Accounts Receivable before the allowance was deducted was: A $13,908 B. $10,710 C. $12,000 D. $10,092

Answer 1

SOLUTION IS -

1. OPTION 'A'

2. OPTION 'A'

3. OPTION 'A'

4. OPTION 'C'

5. OPTION 'A'

6. OPTION 'B'

7. OPTION 'C'

8. OPTION 'B'

9. OPTION 'D'

10. OPTION 'D'