An income statement account that is used to record cash overages and cash shortages arising from petty cash transactions or from errors in making change is titled:

• A. Cash Over and Short.
• B. None of the choices is correct.
• C. Cash Lost.
• D. Bad Debt Expense
• E. Bank Reconciliation.
• F. Petty Cash.

If a company made a bank deposit on December 31 that did not appear on the bank statement dated December 31, in preparing the December 31 bank reconciliation, the company should:

• A. None of the choices is correct.
• B. Add the deposit to the book balance of cash
• C. Deduct the deposit from the December 31 book balance and add it to the January 1 book balance.
• D. Deduct the deposit from the bank statement balance
• E. Skip the bank reconciliation this month
• F. Add the deposit to the bank statement balance

Tesla Inc. had credit sales of $17,985,000 during 2020. At the end of 2020, $185,000 of credit sales remained uncollected. Based on the experience of similar businesses, Tesla estimated that $17,000 of its accounts receivable would be uncollectible. What is the net realizable value of Accounts Receivable at the end of 2020 under the allowance method?

• A. $ 17,783,000
• B. $202,000
• C. None of the choices is correct.
• D. $ 18,153,000
• E. $168,000
• F. $17,000