43. An amount is deposited in the bank at 16% interest, compounded semi-annually, for two years. What number of periods and what rate would be used to find the future value of this investment?

		a. 16% for 2 periods
		b. 8% for 4 periods
		c. 8% for 2 periods
		d. 16% for 4 periods

Sales on credit at Jones Co. were $750,000 during the period. The company uses the percentage of credit sales method to allow for uncollectible accounts and estimates that 4% of the credit sales will become uncollectible. The current balance of the Allowance for Uncollectible Accounts is an $8,000 debit. For what amount should the Allowance account be adjusted this period?

		a. $38,000
		b. $30,000
		c. $22,000
		d. $32,000

46. At Johnson Co., the cost of goods available for sale during the period was $325,000. The total retail selling price for those goods was $500,000. The company had retail sales of $400,000 during the period. What is the estimated cost of the unsold (ending) inventory, using the retail estimation method?

		a. $75,000
		b. $185,000
		c. $65,000
		d. $175,000

Jones Co. purchased $1,000 of equipment on credit last month. Jones has just sent the seller a check for $500 toward payment for the equipment. Jones should record a

		a. debit to Equipment for $500
		b. credit to Accounts Payable for $500
		c. debit to Accounts Payable for $500
		d. debit to Cash for $500