16. If 90% of sales are made on credit and all returns relate to credit sales, what was the beginning balance in Accounts Receivable on July 1? 17. How much cash was received on accounts receivable in July? 18. Fargo uses percentage-of-receivables method to estimate uncollectibles. At what percent does it estimate its uncollectible amount at July 31? 19. Does Fargo record purchases of inventory using the gross method or net method? How is this determined? 20 What was the amount of cash received on the sale of office equipment? ast of oFFa equp 1500 ess: Acunaldl Dy (400) Fargo 5