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At December 31, Gili Company reported accounts recelvable of $227,000 and an allowance for uncollectible accounts of $1,000 (debit) before adjustment. An analysis of accounts

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At December 31, Gili Company reported accounts recelvable of $227,000 and an allowance for uncollectible accounts of $1,000 (debit) before adjustment. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts recelvable. The amount of the adjusting entry for uncollectible accounts would be: Multiple Choice 53,540 54,540 $1,000 Inventory records for Eliza Company revealed the following: Eliza sold 1,840 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $15.566. A company purchased new equipment for $45,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,600; sales tax paid, $3,100; and instailation cost, $2,000. The total capitalized cost reported for the equipment was: Multiple Choice 551700 $46,600 $45,000

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