11.Lankton Company has the following account balances at year-end: Accounts receivable $90,000 Allowance for doubtful accounts 4,800 Sales discounts 3,200 Lankton should report accounts receivable at a net amount of a. $82,000 b. $85,200 c. $86,800 d. $90,000 Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account a. increases the allowance for uncollectible accounts. b. has no effect on the allowance for uncollectible accounts. c. has no effect on net income. d. decreases net income. 13. Which of the following is a characteristic of a perpetual inventory system? a. Inventory purchases are debited to a Purchases account. b. Inventory records are not kept for every item. c Cost of goods sold is recorded with each sale. d Cost of goods sold is determined as the amount of purchases less the change in inventory 14. What is consigned inventory? a. Goods that are shipped, but title transfers to the receiver b. Goods that are sold, but payment is not required until the goods are sold. C. Goods that are shipped, but title remains with the shipper. d. Goods that have been segregated for shipment to a customer. 15. Goods on consignment are a included in the consignee's inventory b.included in the consignor's inventory C: included in the consignee's revenue. d. included in both the consignee's and the consignor's inventory