7. The two methods of accounting for uncollectible accounts receivable are_. A) the direct write-off method and the liability methood B) the asset method and the sales method C) the allowance method and the liability method D) the allowance method and the direct write-off method 8. Accounts Receivable has a balance of $33,000, and the Allowance for Bad Debts has a credit balance of $3300. The allowance method is used. What is the net realizable value of Accounts Receivable before and after a $2300 account receivable is written off? A) $29,700: $29,700 B) $27,400; $27,400 C) $29,700; $27,400 D) $27,400; $32,000 9. A company reports net accounts receivable of $152,000 on its December 31, 2019 balance sheet. The Allowance for Bad Debts has a credit balance of $20,000. What is the balance of Accounts Receivable? A) $157,000 B) $152,000 C) $172,000 D) $132,000 10. The Allowance for Bad Debts account has a credit balance of $4000 before the adjusting entry for bad debts expense. The company's management estimates that 5% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $280,000. What is the amount of Bad Debts Expense reported on the income statement for 2019? A) $14,000 B) $18,000 C) $7000 D) $10,000 11. The Allowance for Bad Debts account has a credit balance of $2000 before the adjusting entry for bad debts expense. The company's management estimates that 2% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $260,000. What will be the balance of Allowance for Bad Debts on the December 31, 2019 balance sheet? A) $5200 B) $2000 C) $7200 D) $5160