Accounts Receivable has a debit balance of $3,000, and the Allowance for Uncollectible Accounts has a credit balance of $600. A $90 account receivable is written off. What is the amount of net receivables (net realizable value) after the write-off? A. $2,490 B. $2,910 C. $2,400 D. $2,310 Jackson Company had the following information in 2018: (Click the icon to view the information.) Uncollectible accounts are determined by the percent-of-sales method to be 3% of credit sales. How much is uncollectible-account expense for 2018? O A. $1,010 Data Table B. $900 C. $320 D. $1,170 8,000 900 Accounts receivable 12/31/18. Allowance for uncollectible-accounts credit balance 12/31/18 (before adjustment). Credit service revenue during 2018 Cash service revenue during 2018. 39,000 20,000 Collections from customers on account during 2018 40,000 Print Done A doctor for the Benson Family Practice performs a sports physical exam for Allison Smythe on February 1. The charge for the exam is $100; Smythe's insurance company, Cardinal Health, is billed for the entire $100 on February 1. Cardinal Health receives the invoice on February 2, and enters the amount into its payment system on February 4. Benson Family Practice receives the $100 payment from Cardinal Health on February 20. On which date would Benson Family Practice recognize the revenue for the Smythe's physical? A. February 2 B. February 1 C. February 20 D. February 4 From the following list of accounts calculate the quick ratio. (Click the icon to view the accounts.) - O A. 1.1 Data Table OB. 1.7 O C. 1.8 OD. 0.8 Cash $ 4,000 12,000 Accounts receivable 17,000 1,000 14,000 Inventory Prepaid insurance Accounts payable Salary payable Notes payable (due in two years) Short-term investments 8,000 10,000 2,000 Print Done What is the maturity value of a $90,000, 15%, six-month note? O A. $103,500 O B. $96,750 O C. $90,000 OD. $83,250 Jackson Company had the following information in 2018: BE: (Click the icon to view the information.) Uncollectible account expense for 2018 is $1,615. What is the adjusted balance in the Allowance account at year-end for 2018? O A. $650 Data Table B. $2,515 C. $1,615 D. $900 $ 8,000 900 Accounts receivable 12/31/18. Allowance for uncollectible-accounts credit balance 12/31/18 (before adjustment). Credit service revenue during 2018 Cash service revenue during 2018 Collections from customers on account during 2018 39,000 20,000 40,000 Print Done Which of the following statements is true? O A. Write-offs of accounts decrease receivables. B. Credit sales increase receivables. C. Collections on account decrease receivables. D. All of these statements are true
