answer 4,5

4. For the year ended December 31, 2020, Carson Company estimated its allowance for uncollectible accounts using the year-end aging of accounts receivable. The following data are available: Allowance for uncollectible accounts, 1/1/2020 $180,000 Estimated uncollectible accounts per aging, 12/31/2020 $230,000 Uncollectible accounts written off, 5/1/2020 $50,000 The year-end adjustment journal entry to record bad debt expense should be: a. $0 b. $50,000 c. $100,000 d. $360,000 5. A company has satisfied its performance obligation when the: a. company has received payment for goods or services. b. company has significant risks and rewards of ownership. c. company has legal title to the asset. d. company has transferred physical possession of the asset. con