21. In March 2014, the $450 owed by Miner Co. on account is written off as uncollectible using the method. Write the journal entry to record the transaction. A. Debit t Allowance for Uncollectible Accousts 450; Credit Accounts Receivable-Miner Co. 450 ccounts Receivable-Miner Co. 450; Credit Allowance for Uncollectible Accounts 450 d Debe Expense 450; Credit Accounts Receivable-Miner Co. 450 C. Debit Ba D. Debit Bad Debt Expense 450; Credit Allowance 450 22. In November 2014, 5300 of the Miner Co. account is reinstated and payment of that amount is received. Write the journal entry for the reinstatement of the account. A. Debit Accounts Receivable-Miner Co. 300: Credit Bad Debt Expense 300 B. Debit Accounts Receivable-Miner Co 300: Credit Allowance for Uncollectible Accounts 300 C. Debit Accounts Receivable Miner Co 300; Credit Cash 300 D. Debit Allowance for Uncollectible Accounts 300; Credit Accounts Receivable- Miner Co 300 23. What is the jounal entry for the receipt of cash in question 22? A. Debit Accounts Receivable-Miner Co. 300;Credit Cash 300 B. Debit Cash 300; Credit Bad Debt Expense 300 C. Debit Cash 300; Credit Accounts Receivable-Miner Co. 300 Debit Cash 300; Credit Allowance for Uncollectible Accounts 300 D. ger of Sitton Company at the end of the current year shows Accounts Receivable of $80,000; Credit Returns and Allowances of$40,000. If 2% of credit sales are uncollectible and Sales of $870,000 and Sales there is a credit balance A. 62,300 B. 63.400 C. 17,700 D. 16,600 of $1,100 in the Allowance account calculate the net realizable value? 25. Contingent liabilities are potential liabilities that depend on two factors. What are the two factors? A. Reliability and relevance B. Dependability and consistency C. Probable and estimable D. Likely and remote 26. When natural resources are used in a company such as timber, ore, coal gold, or other minerals a portion of their cost is debited to an expense account. This account is called what? A. Depreciation C. Depletion D. Units of Output 27. Machinery acquired on January 1, 2010 at a cost of $15,000 with a residual value of $3,000 and has accumulated depreciation of 9,000 when it is sold. The company receives $2,000 cash and a $3,000 note receivable due in 180 days at an interest rate of 8%. Record the gain or loss on the transaction. A. No gain or loss B. $1,000 loss C. $1,000 gain D. $5,000 loss