:10 PM/Remaining: 99 min Question 13 During January 2017, its first month of operation, Swifty Corporation earned net income of $5170 and paid dividends to the owners of $1520 At January 31, the balance in Retained Earnings will be $5170 credit $1520 debit. $0. $3650 credit chow Work Question 12 The following information is related to December 31, 2016 balances. $3340000 Accounts receivable (275000) Allowance for doubtful accounts (credit) $2870000 Cash realizable value During 2017 sales on account were $899000 and collections on account were $505000. Also during 2 uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad Bad debt expense for 2017 is $34500. $127500 $81000 $356000. Question 9 ERSION Vaughn Manufacturing issues 63000 shares of $50 par value preferred stock for cash at $65 per share. The entry to record the transaction will consist of a debit to Cash for $4095000 and a credit or credits to Paid-in Capital from Preferred Stock for $4095000. Preferred Stock for $4095000. Preferred Stock for $3150000 and Retained Earnings for $945000. Preferred Stock for $3150000 and Paid-in Ca tal in Excess of Par Value-Preferred Stock for $945000. Question 8 N Flounder Corp. purchased a delivery van with a $67000 list price. The company was given a $6000 cash discount by the dealer, and paid $2700 sales tax. Annual insurance on the van is $1300, As a result of the purchase, by how much will Flounder Corp. increase its van account? $63700 $67000. $65700. $61000