Assume for questions 7 to 9 that the aging of accounts receivable method is used to estimate bad debis expense. You prepare the following analysis of aged accounts receivable at the end of the fiscal years, 2020 and 2021. (Hint use T-accounts to keep track of the various details) Analysis of Aged Accounts Receivable Nor Yet Past Due Dne 160 Over 60 Current Total days days Accounts receivable, 9/30/2020 $18,400 54,700 $1,600 $24,700 Accounts receivable, 24,300 5.600 2,000 $31.900 9/30/2021 Estimated uncollectible 106 40. 75% 7 of 20 Based on your analysis of aged accounts receivable, what should be the balance of the allowance for doubtful accounts at September 30, 2020? O A $4.920 OB 56.170 OCS11 090 OD 5770 OE None of the other mounts osure 8 of 20 The joumal entry to record the estimated bad debts expense for 2021 should include: OA A dobit to bad debts expense for 5770 OB. Acredit to allowance for doubtful accounts for $5,690 OC Adebit to bad debts expense for $1 250 OD Adotto bad debts expense for $6 650 Unsure 9 of 20 Which of the following statements is incorrect wnen arguing in favour of using the aging of accounts receivable method instead of the percentage of credit sales method? OA The aging of accounts receivabio metro generally results in a more accurate valuation of the not accounts receivable on the statement of financial position 08 The aging of accounts receivable method matches bad debes expense with credit sales in the same period OC The aging of accounts receivable method take into account pest experience by adjusting for previous under or overstatement of the allowance account OD The aging of accounts receivable method is more afficult to implement than the percentage of credit sales method Unsure Use the following information to answers questions 10 to 16: Whitby Inc is a wholesale that uses a perpetual riventory syslom The company's accounting records provided the following transactions tor Product B during the fiscale ended on December 31 2020 Date Transactions Units Unit Cost Sale Price March 3 Purchase 19.000 59 June 15 10.000 527 September 19 Purchase 8.000 November 20 Sale 16,000 30 Sale Additional information . The boginning inventory consisted of 7 000 units at a total cost of $56.000 . All sales are made on account with credit terms, 2/10, 130 Customers who purchased 10 000 units on November 20 pad the wount doe within the discount period the customers paid their accounts receivable after the discount period Ar the start of each question toow we indicate whether the Fast First out FFSmood or ne Worted Average Cost (WAC) metod is used 10 of 20 (FIFO) The cost of ending inventory at December 31, 2920 15 DA 511 000 OBS88000 OC $80.000 ODS10,000 Umsung