1. Kreiger Corporation developed the following reconciling information in preparing its July bank reconciliation:

Cash balance per bank, 7/31 $23,000

Note receivable collected by bank 7,500

Outstanding checks 15,000

Deposits in transit 8,000

Bank service charge 100

NSF check 1,800

Determine the cash balance per books (before adjustments) for Kreiger.

2. Kendall Corporation had a 1/1/16 balance in the Allowance for Doubtful Accounts of $18,000. During 2016, it wrote off $11,500 of accounts and collected $4,500 on accounts previously written off. The balance in Accounts Receivable was $350,000 at 1/1 and $530,000 at 12/31. At 12/31/16, Kendall estimates that 6% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2016?

3. Smithsons allowance for uncollectible accounts was $180,000 at the end of 2016 and $160,000 at the end of 2015. For the year ended December 31, 2016, Smithson reported bad debt expense of $7,000 in its income statement. What amount did Smithson debit to the appropriate account in 2016 to write off actual bad debts?

4. Renard has outstanding accounts receivable totaling $2.3 million as of December 31 and sales on credit during the year of $15 million. There is also a debit balance of $38,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

5. Before year-end adjusting entries, Paris Corp's account balances at December 31, 2016, for accounts receivable and the related allowance for uncollectible accounts were $142,000 and $18,000, respectively. An aging of accounts receivable indicated that $25,500 of the December 31 receivables are expected to be uncollectible. What is the net realizable value of accounts receivable after adjustment is made?

6. Consider the following: Cash in Bank, checking account of $25,000, Cash on hand of $1,125, Post-dated checks received totaling $2,700, and Certificates of deposit totaling $142,000. How much should be reported as cash in the balance sheet?

7. Zipline Inc. factored, with recourse, $175,000 of accounts receivable with Lewis Financing. The finance charge is 3.5%, and 5% was retained to cover sales discounts, sales returns, and sales allowances. Zipline estimates the recourse obligation at $2,200. What amount should Zipline report as a loss on sale of receivables?

8. Soothie Inc. factors $850,000 of its accounts receivables with Ripoff Finance on a without recourse basis for a finance charge of 4%. The finance company retains an amount equal to 6.5% of the accounts receivable for possible adjustments. Prepare the journal entry required on Soothies books.

9. Given the above information, prepare the journal entry for Ripoff Finances books.

10. Given the above information, Soothie factors the same amount of accounts receivables on a with recourse basis and the finance charge is 3.5%. The fair value of the recourse liability is estimated at $25,000. Prepare the journal entry required on Soothies books.

11. On July 4, Freedom sold $87,000 of inventory items on credit with the terms 3/10, net 30. Payment on $47,000 of the sales was received on July 10 and the remaining payment of $40,000 sales was received on July 30. Assuming Freedom uses the net method of accounting for sales discounts, record the entry on July 30.

12. On May 15, Brandle sold $75,000 of inventory items on credit with the terms 2/15, net 30. Payment on $50,000 of the sales was received on May 28 and the remaining payment was received on June 12. Assuming Brandle uses the gross method of accounting for sales discounts, what is the journal entry made on May 28?