1 ifthe balance in the allowance account equals $20,000 and accounts receivable has a $100,000 alnce and bad debts expense is $15,000 and sales are $1570,000, the net realizable value of accounts receabies i a SRL000 & S20.000 c S100,000 d none of the above 20 Which of the following results in most of the depreciation being taken in the early years of an assets useful ife? a straight line A double declining balance c last in first out d none of the above. Equipment acquired at beginning of year for cost of $190,000. The residual value is $30,000. The useful life is 8 years. The company uses double declining balance. 21. The depreciation expense at the end of the first year is: a. $47,500 b. $20,000 c. $25,000 e. none of the above 22. The book value at the end of the second year is: a. $106,875 b. $154,375 c. $275,750 d. none of the above Match the following sentences to the inventory cost flow method they describe. a. FIFO b. LIFO c. Average Cost 23. Widely used for tax purposes. 24. Never results in either the highest or lowest possible net income. 25. Produces the highest ending inventory when costs are Results in the highest cost-of-goods. 7. Cost of the latest purchases is assigned to cist-of-goods-sold. 26. increasing