A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable Allowance for uncollectible accounts Net Sales $362,000 debit 570 debit 807,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.3% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? o o o o o In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30 Deposits in transit at month-end Outstanding checks at month-end Bank service charges EFT automatically deducted monthly, not yet recorded by Maxi An NSF check returned on a customer account $5,225 $1,900 $ 570 $ 30 $ 480 $ 315 The adjusted cash balance per the books on January 31 is: Multiple Choice ooo A company purchased property for $100,000. The property included a building a parking lot, and land. The building was appraised at $56,000, the land at $49.800, and the parking lot at $19,200. Land should be recorded in the accounting records with an allocated cost of: Multiple Choice $49800. Claybom Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $26,025. Clayborn's May bank statement shows $23,000 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Bank service fees, not yet recorded by company A NSF check from a customer, not yet recorded by the company $7,900 $6,400 $ 115 $1,410 The adjusted cash balance should be: Multiple Choice O $30,300 O o 0 524525 O $24500 oo O $25.90