1) Scully Company's beginning and ending accounts receivable balances are $92,000 and $86,000, respectively. The beginning and ending allowance for doubtful accounts balances are $8,000 and $14,500. If Scully estimated bad debt expense of $6,000 during the year and had total write-offs of $3,500, what is the value of the recoveries of previously written off accounts?

Select one:

a. $49,500

b. $3,500

c. $6,000

d. $4,000

2) McNealy Corporation had a beginning and ending accounts receivable balance of $50,000 and $106,000, respectively. During the year, Mulder had credit sales of $68,000 and write-offs of $14,000. If McNealy estimates bad debt expense at 5% of credit sales, what is the bad debt expense for 2019?

Select one:

a. $3,400

b. $5,300

c. $14,000

d. $2,500

3)On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective interest rate of 8%. The bonds make a cash interest payment each year on December 31. What is the carrying value of the bonds (i.e., the remaining bond liability) on December 31, 2024 (after 6 years have passed)?

Select one:

a. $2,000,000.00

b. $2,184,915.19

c. $2,132,485.07

d. $1,825,789.57