14. Canutillo Produce estimates bad debt expense at 1 .75% of credit sales. The company report accounts receivable and allowance for uncollectible accounts of $471,000 and S at December 31, 2017. During 2018, Canutillo's credit sales and collections were $375,000 and $319,000, respectively, and $1,720 in accounts receivable were written off. 1,650, respectively Canutillo's 2018 bad debt expense is: A. $6,563 B. $5,583 C. $1,720 D. $1,650 E. $8,243 15. Chico's Tacos transferred $75,000 of accounts reccivable to El Paso Bank. The transfer was made without rccourse. El Paso Bank remits 90% of the factored amount to Chico's and El Paso Bank retains 10%. When the bank collects the receivables, it will remit to Chico's the retained amount (which Chico's estimates has a fair value of $7,000) less a 2% fee (2% of the total accounts receivable factored). At what amount should Chico's record the receivable from El Paso Bank? A. $7,000 B. $5,500 C. $3,800 D. $1,500 E. None of the above 16. On May 1, 2018, Tony Lama Boots sells boots to Starr Western Wear in exchange for a six-month. $750,000 noninterest-bearing note with a 7% discount rate. When Tony Lama records the May 1st sale in its books, for what amount will it credit the discount on note receivable account? A. $750,000 B. $15,000 C. $723,750 D. $356,395 E. $26,250