1. Before the 2019 year-end adjusting entries, Dunn Company's net credit sales of $400,000, accounts receivable balance was $120,000 and allowance for doubtful account $0. Dunn estimates that 10% of the accounts receivable are uncollectible. What would Dunn Company?s net realizable value be for 2019?

$360,000

$108,000

$120,000

$12,000

2. Moon Inc. factors $200,000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 2% of the accounts receivable for possible sales discounts and 1% for possible bad debt. What would Moon collect in cash the day that the accounts receivables are factored?

3. Before the 2019 year-end adjusting entries, Dunn Company's net credit sales of $400,000, accounts receivable balance was $120,000 and allowance for doubtful account $0. Dunn estimates that 10% of the accounts receivable are uncollectible. What would Dunn Company?s journal entry for the uncollectible amount be for 2019?