1.A company uses the percent of sales method to calculate bad debt expense and has net credit sales of $900,000 for the year. It estimates that uncollectible accounts will be 2% of net credit sales. If Allowance for Doubtful Accounts has a credit balance of $1,000 prior to adjustment, its balance after the entry for bad debts is made will be a credit of

2.Manning Retailers accepted $75,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. The entry to record this transaction by Manning Retailers will include a credit to Sales of $75,000 and a debit(s) to

1.Accounts Receivable $72,000 and Service Charge Expense $3,000.

2.Accounts Receivable $75,000.

3.Cash $72,000 and Service Charge Expense $3,000.

4.Cash $72,000 and Interest Expense $3,000.

3.ABC Company accepted a national credit card for a $3,000 purchase. The credit card company charges a 3% fee. The entry to record this transaction by ABC Company will include a credit to Sales of $3,000 and a debit(s) to

Group of answer choices

1.Accounts Receivable $2,910 and Service Charge Expense $90.

2.Cash $2,910 and Service Charge Expense $90.

3Cash $2,910 and Interest Expense $90.

4.Accounts Receivable $3,000.

4.Oliver Furniture factors $800,000 of receivables to Kwik Factors, Inc. Kwik Factors assesses a 2% service charge on the amount of receivables sold. Oliver Furniture factors its receivables regularly with Kwik Factors. What journal entry does Oliver make when factoring these receivables?

Group of answer choices

1.Debit Cash 800,000 : Credit Accounts Receivable 784,000; Credit Gain on Sale of Receivables 16,000

2.Debit Cash 784,000; Debit Loss on Sale of Receivables 16,000; Credit Accounts Receivable 800,000

3.Debit Cash 784,000; Debit Service Charge Expense 16,000; Credit Accounts Receivable 800,000

4Debit Cash 784,000; Credit Accounts Receivable 784,000

5.

Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $500,000 and credit sales are $2,000,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?

Group of answer choices

1.Debit Bad Debts Expense 20,000; Credit Allowance for Doubtful Accounts 20,000

2.Debit Bad Debts Expense 20,000; Credit Accounts Receivable 20,000

3.Debit Bad Debts Expense 25,000; Credit Accounts Receivable 25,000

4.Debit Bad Debts Expense 25,000; Credit Allowance for Doubtful Accounts 25,000

please just the answer