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answer all of them please Question 3 3 pts At the end of the current year, Raptor Company has the following accounts and account balances:
answer all of them please Question 3 3 pts At the end of the current year, Raptor Company has the following accounts and account balances: Accounts Receivable (A/R): $2,000,000 (debit balance); Allowance for Doubtful Accounts (AFDA): $10,000 (credit balance) Sales": $9,000,000 (credit balance) Sales figure is for the year If using the analysis of receivable method, the balance of the amount in the Allowance for Doubtful Accounts is estimated to be $120,000 (credit balance). Bad debt expense has been on average 1.25% of net sales. Choose the BEST Answer - Under the Analysis of Receivable Method, the amount of bad debt expense to be booked as a result of "setting up" the doubtful accounts would be: $110,000 ($120,000 - $10,000) None of the answers are correct. $120,000 an amount which cannot be determined $130,000 $2,000,000 multiplied by 1.25% At the end of the current year, Raptor Company has the following accounts and account balances: Accounts Receivable (A/R): $2,000,000 (debit balance): Allowance for Doubtful Accounts (AFDA): $10,000 (credit balance) Sales': $9,000,000 (credit balance) *Sales figure is for the year If using the analysis of receivable method, the balance of the amount in the Allowance for Doubtful Accounts is estimated to be $120,000 (credit balance). Bad debt expense has been on average 1.25% of net sales. Choose the BEST Answer - Under the Analysis of Receivable Method, after booking the bad debt expense, the net realizable value of receivables would be: $1.880,000 $10,000 $1,990,000 None of the answers are correct. $120,000 $8,880,000 Question 5 3 pts At the end of the current year, Raptor Company has the following accounts and account balances: Accounts Receivable (A/R): $2,000,000 (debit balance); Allowance for Doubtful Accounts (AFDA): $10,000 (credit balance) Sales': $9,000,000 (credit balance) "Sales figure is for the year If using the analysis of receivable method, the balance of the amount in the Allowance for Doubtful Accounts is estimated to be $120,000 (credit balance). Bad debt expense has been on average 1.25% of net sales. True or False: Before "setting up" bad debt expense using the Analysis of Receivable Method, all A/R in the ledger should be reduced to zero. True False Question 6 3 pts At the end of the current year, Raptor Company has the following accounts and account balances: Accounts Receivable (A/R): $2,000,000 (debit balance): Allowance for Doubtful Accounts (AFDA): $10,000 (credit balance) Sales': $9,000,000 (credit balance) *Sales figure is for the year If using the analysis of receivable method, the balance of the amount in the Allowance for Doubtful Accounts is estimated to be $120,000 (credit balance). Bad debt expense has been on average 1.25% of net sales. Choose the BEST Answer - Using the Percentage of Sales Method, the the journal entry to set-up bad debt would be a: None of the answers are correct. debit to Bad Debt Expense of $130,000. credit to Bad Debt Expense of $112,500. credit to Bad Debt Expense of $130,000 debit to Bad Debt Expense of $112,500. 3 pts Question 10 This method (the Percentage of Sales Method) requires that all receivables be on net 30 terms. True False Question 11 3 pts If Raptor Company used the Direct Write-Off Method and received a $16,000 check in the mail for an accounts receivable it already wrote off, the journal entries needed to receive the amount would include adjusting the AFDA to correct for the prior write-off. True False
answer all of them please
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