(4.5 points each) 1. Using the balance sheet approach, bad debt expense is an indirect result of estimating the appropriate balance for the allowance for uncollectable accounts. TRUE OR FALSE 2. A customer's post dated check amount is included in the balance for cash on hand. TRUE OR FALSE 3) In a well-controlled petty cash fund, the amount of cash plus the amount of expenditure vouchers should be equal to the original amount in the petty cash fund. TRUE OR FALSE 4) The journal entry to record the replenishment of a petty cash fund includes a credit to the petty cash fund. TRUE OR FALSE 5) Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2018: $ 650 2,600 1,200 Currency and coins Balance in checking account Customer checks waiting to be deposited Treasury bills, purchased on 11/1/2018, mature on 4/30/2019 Marketable equity securities Commercial paper, purchased on 11/1/2018, mature on 1/30/2019 3.000 10,200 5,000 What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents? A) $9,450. B) $12,450. C) $7,450. D) $19,650. 6) Compensating balances represent: A) Funds in a bank account that can't be spent. B) Balances in a payroll checking account. C) Accounts that are subject to bank service charges. D) Accounts on which banks pay interest, e.g., NOW accounts. 7. Cash equivalents do NOT include: A) Money market funds B) High Grade marketable equity securities C) U.S. treasury bills D) Commercial paper 8) The allowance for uncollectible accounts is a: A) Deferred charge to expense. B) Contra asset account. C) Deferred revenue account. D) Quasi-liability account