A company uses the aging schedule (allowance method or balance sheet approach) to estimate the allowance for doubtful (uncollectible) accounts and writes off a specific account as uncollectible. Following the write-off the customer pays. The entries made upon receiving payment from the customer will: Select one: 0 a. decrease allowance for doubtful (uncollectible) accounts b. decrease bad debt expense: c. increase allowance for doubtful (uncollectible) accounts d. decrease cash Taylor Co purchased a piece of equipment for $20,000 on January 1, 2021. Taylor estimates the equipment has a three-year useful life and a $2,000 salvage value. If Taylor Co depreciates this equipment using straight-line depreciation, what is the end of the fiscal year 2022 balance in accumulated depreciation? Answer: 0 Taylor Co had the following inventory data: Beginning inventory 3,000 units at $4 a unit Purchase 1 consisted of 2,500 units at $4.25 a unit Purchase 2 consisted of $1,500 units at $4.50 a unit. During the period, Taylor Co sold 4,300 units for $7 a unit. If Taylor Co uses LIFO inventory what was the value of goods available for sale