Accounts Receivable 8. The entry to record the write-off of Dominick, Inc.'s account using the allowance method is: A) Dr. Bad Debts Expense (Op Exp) Cr. Allowance for Doubtful Accounts (X CA) B) Dr. Bad Debts Expense (Op Exp) Cr. Accounts Receivable--Dominick, Inc. (CA) C) Dr. Allowance for Doubtful Accounts (X CA) Cr. Accounts Receivable--Dominick, Inc. (CA) D) Dr. Accounts Receivable--Dominick, Inc. (CA) Cr. Allowance for Doubtful Accounts (X CA) 9. Oakpark, Inc.'s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current balances and $20,000 past-due balances. At December 31, the Allowance for Doubtful Accounts had a credit balance of $1,600. Oakpark estimated that 2% of current balances and 15% of past-due balances will prove uncollectible. 5,800 The adjusting entry to record credit losses is: A) Dr. Bad Debts Expense (Op Exp) 5,800 Cr. Allowance for Doubtful Accounts (X CA) B) Dr. Bad Debts Expense (Op Exp) 4,600 Dr. Allowance for Doubtful Accounts (X CA) C) Dr. Bad Debts Expense (Op Exp) 4,200 Cr. Accounts Receivable (CA) D) Dr. Bad Debts Expense (Op Exp) 7,400 Cr. Allowance for Doubtful Accounts (X CA) 4,600 4,200 7,400 10. Mario Company's Accounts Receivable balance at December 31 was $300,000 and there was a credit balance of $1,400 in the Allowance for Doubtful Accounts, The year's sales were $1,800,000. Mario estimates credit losses for the year at 1.5% of sales. After the appropriate adjusting entry is made for credit losses, what is the net amount of accounts receivable included in the current assets at year-end? A) $300,000 Final Answer: B) $271,600 C) $325,400 D) $277,400