9) Jensen Corporation uses the percentage-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible. The Allowance for Doubtful Accounts prior to adjustment has a debit balance of $18,000 (after all write-offs are recorded). After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be: A) $18,000. B) $18,540. C) $42,300. D) $60,300 10) The balance in Accounts Receivable was $650,000 at the beginning of the year and $760,000 at the end of the year. Credit sales for the year totaled $4,130,000. During the year, $410,000 in customer accounts were written off. How much cash was collected from customers during the period? A) $3,610,000 B) $4,020,000 C) $4,430,000 D) $4,650,000 11) Following Generally Accepted Accounting Principles, which method of estimat uncollectible accounts is NOT acceptable? A) allowance method B) percent-of-sales method C) aging-of-receivables method D) direct write-off method 12) On December 31 of the current year, Jerome Company has an accounts receivable balance of $329,000 before any year-end adjustments. The Allowance for Doubtful Accounts has a $1,100 credit balance. The company prepares the following aging schedule for accounts receivable: Total Balance 1-30 days31-60 days 61.90 days over 90 days $329,000 S160,000 $90,000 $51,000 $28.000 Percent uncollectible 1% 2% 3% 20% What is the Allowance for Uncollectible Accounts at December 31 of the current year after adjustments? A) $1,100 B) 9430 C) $10,530 D) $11,630