At the end of the current year, a company has the following amounts: During the Estimated current for next year year $ 7,200 $ 8,300 $12,500 $9,100 $ 2,400 $ 2,600 Sales returns Sales allowances Sales discounts For what amount would the company report sales returns in its current-year in Multiple Choice $7,200. 0 $9,500. 0 $15,500 0 $22,100. 0 uizi The percentage-of-receivables method for accounting for uncollectible accounts focuses on the: Multiple Choice Total credit sales for the year. Ratio of accounts receivable to sales. Net amount of cash expected to be collected. Cash flows from sales. At the end of the year, Mark Inc. estimates future bad debts to be $6,500. The Allowance for Uncollectible Accounts has a credit balance of $2.500 before any year-end adjustment. What adjustment should Mark Inc. record for the estimated bad debts at the end of the year? Multiple Choice Debit Bad Debt Expense, $6,500, credit Allowance for Uncollectible Accounts, $6,500. Debit Bad Debt Expense, $4,000; credit Allowance for Uncollectible Accounts $4,000. Debit Allowance for Uncollectible Accounts, $9,000 credit Bad Debt Expense, $9,000. Debit Bad Debt Expense, $9,000; credit Allowance for Uncollectible Accounts, $9,000. The receivables turnover ratio indicates: Multiple Choice How efficient the company is at managing sales and inventory. O The relationship between sales and cost of goods sold. The number of times during a year that the average accounts receivables were collected. The relationship between cash sales and credit sales. At the end of the current year, a company has the following amounts: During the current year $ 7,200 $12,500 $ 2,400 Estimated for next year $ 8,300 $9,100 $ 2,600 Sales returns Sales allowances Sales discounts For what amount would the company report sales returns in its current-year income statement? Multiple Choice 0 $1,200. $9,500. OO $15,500. o $22100