18- Buehler Company on June 15 sells merchandise on account to Chaz Co. for $1,000, terms 2/10, 1/30. On June 20, Chaz Co. returns merchandise worth $300 to Buehler Company. On June 24, payment is received from Chaz Co. for the balance due. What is the amount of cash received? (a) $700. (b) 5580 (e) $686. (d) None of the above 19- Hughes Company has a credit balance of $5,000 in its Allowance for Doubtful Accounts before any adjustments are made at the end of the year. Based on review and aging of its accounts receivable at the end of the year, Hughes estimates that $60,000 of its receivables are uncollectible. The amount of bad debt expense which should be reported for the year is: (a) $5,000. (b) $55,000. (e) $60,000. (d) $65,000 20- Net sales for the month are $800,000, and bad debts are expected to be 1.5% of net sales. The company uses the percentage-of-sales basis. If Allowance for Doubtful Accounts has a credit balance of $15,000 before adjustment, what is the balance after adjustment? (a) $15,000. (b) $27,000. (e) $23,000