48) If a check correctly written and paid by the bank for $422 is incorrectly recorded in the company's books for $362, how should this error be treated on the bank reconciliation?

Subtract $60 from the book balance.

Subtract $60 from the bank's balance and add $60 to the book's balance.

Add $60 to the book balance.

Add $60 to the bank's balance.

Subtract $60 from the bank's balance.

49) On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,700; Allowance for Doubtful Accounts, credit balance of $1,111. What amount should be debited to Bad Debts Expense, assuming 6% of outstanding accounts receivable at the end of the current year will be uncollectible?

$4,811.

$3,919.

$7,033.

$5,922.

$1,111.

50) A company pays each of its two office employees each Friday at the rate of $110 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:

Debit Unpaid Salaries $660 and credit Salaries Payable $660.

Debit Salaries Payable $440 and credit Salaries Expense $440.

Debit Salaries Expense $660 and credit Salaries Payable $660.

Debit Salaries Expense $440 and credit Salaries Payable $440.

Debit Salaries Expense $440 and credit Cash $440.