3) Irreplaceable Services estimates 7% of its year-end $239,000 accounts receivable balance will be uncollectible. Assume the company has a $3,000debitallowance balance at year-end.Record the December 31 adjusting entry.

4) If $16,000 of dividends are declared, what balance sheet section would be directly affected?

Question 4 options:

A. $16,000 increase to current liabilities

B. $16,000 increase to long-term liabilities

C. $16,000 increase to stockholders' equity

D. No balance sheet section affected, only the retained earnings statement would be affected

5) On December 14, Stockholm Imports sells 30 vases for $58 each on account with terms 5/20, n/45. Assume the company uses thenetmethod for cash discounts.Record this transaction into a journal entry.

6) On August 7, Wild Party Supply sells a customer $3,200 of inventory on account with terms 2/15, n/30. On August 25, the customer pays off the full balance. Assume the company uses thegrossmethod for cash discounts.Record the August 25 payment into a journal entry