AGING SCHEDULE 1-30 days 31-60 days 61-90 days ACCOUNT RECEIVABLE ALLOWANCE FOR AMOUNT UNCOLLECTIBLE $75,200 2% $24,900 5% $11,200 9% Total Uncollectible Balance UNCOLLECTIBLE AMOUNT $ $ $ $ Using the aging schedule above, which of the following is the total uncollectible amount? O a.) $3,757 b.) $2,749 O c.) $2,512 d.) $2,253 SUBMIT MY ANSWER javascript:void(0) UNIT 4 - CHALLENGE 3: Notes Payable Which of the following ratio analysis methods is a liquidity ratio? o a.) Asset turnover o b.) Return on Total Assets oc.) Inventory turnover O d.) Rate of Return on Sales UNIT 4 CHALLENGE 3: Notes Payable a 1 LEARNING OBJECTIVE: Distinguish between the different types of activities on a statement of cash flows. Which of the following scenarios is a financing activity? a.) An observation that, on average, customers return $570 worth of merchandise each month O b.) $2,000 received from the bank to aid in the purchase of the building O c.) $5,670 recorded as profit for June documented on the income statement d.) Purchase of the building next to the Paisley Place for $25,000 to be used for expansion UNIT 4 - CHALLENGE 3: Notes Paya LEARNING OBJECTIVE: Compare the types of internal controls and reconciliations. K > The accountant who performed the monthly bank reconciliation could not be the same person who approved new vendors. Which of the following internal control systems is being used in this scenario? O a.) Control environment b.) Control activities oc.) Risk assessment O d.) Monitoring processes