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3) What two accounts are impacted when recording the estimate f uncollectible accounts? a. Accounts receivable and retained earnings (revenue) b. Cash and retained earnings

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3) What two accounts are impacted when recording the estimate f uncollectible accounts? a. Accounts receivable and retained earnings (revenue) b. Cash and retained earnings (revenue) c. Accounts payable and retained earnings (bad debt expense) d. Allowance for doubtful accounts and retained earnings (bac expense) 4) When using the percent of sales what is the uncollectible accou balance based on the following: Cash Sales: $450,000 Credit Sales: $1,500,000 Expected Uncollectible Accounts: 6% a. $85,000 b. $90,000 c. $117.000 d. $101,000 3) What is the allowance for doubtful accounts based on the following? Uncollectible Percentage Current 1-30 Days Past Due 31 - 90 Days Past Due 90+Days Past Due Balance 10000 15,000 7500 1 ,500 15 Totals 34.000 a. $2,960 b. $1,900 c. $2,825 d. $2,300 6) What is the net realizable value of the accounts receivable belo Accounts receivable balance: $225,000 Cash Sales: $17,500 Allowance for uncollectible accounts: $12,500 a. $212,500 b. $225,000

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