34. After aging the accounts receivable, it is estimated that $790 will not be collected and the allowance s an exristing debit balance of $230. The adjusting entry under the aging approach would b for the amount of $790. b. $230. c. $560. d $1,020. 35. After aging the accounts receivable, it is estimated that $420 will not be collected and the allowance account has an existing debit balance of $100. If accounts receivable is $14 would be a. $145,000. b. $144,580. c. $144,900 d. $144,480. 36. Accountants argue that which of the following approaches to estimating Allowance for Bad Debts provides a realistic estimate of the net receivables? a. b. c. d. taking a percentage of net sales taking a percentage of revenue aging the accounts receivable analyzing the sales on account 37. After aging the accounts receivable, it is estimated that $700 will not be collected and the allowance account has an existing credit balance of $100. The adjusting entry under the aging approach would be for the amount of a. $100. b. $600. c. $700. d. $800. 38. The direct write-off method is a. acceptable for financial reporting purposes. b. required for income tax purposes. c. acceptable for auditing purposes. d. required by generally accepted accounting principles. 39 Under the direct write-off method, when an account receivable is written off in one accounting period and is collected in the following accounting period, which of the following would be include the journal entry? a. debit Accounts Receivable b. credit Bad Debt Expense c. credit Cash d. credit Accounts Receivable