1. Leno Company sells goods to the Fallon Company for $12,000. It offers credit terms of 2/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: 2.

3. Using the percentageofsales method, the estimated total uncollectible accounts are $7,022. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $3,135. The Accounts Receivable balance is $44,420. The amount of the adjusting entry for UncollectibleAccounts Expense is:

4. The following item appeared on a balance sheet:

Accounts Receivable, less allowance of $86,256 ...........$1,437,600

The gross balance in Accounts Receivable before the allowance was deducted was:

A year - end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Est. Percent Uncollectible Ra 3% Days Outstanding 1 - 30 days 31-60 days 61 - 90 days Over 90 days Accounts Receivable $62,000 $45,000 $21,000 $8,000 4% 10% 51% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible - Account Expense at year-end is