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Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $485,000 and $1470
Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $485,000 and $1470 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $322,000 and $316,000, respectively, and $1,900 in accounts receivable were written of Calistoga's 2021 bad debt expenses Multiple Choice O $.686 O $1610 O $1,540 0 $1,755 On November 10 of the current year, Flores Mills sold carpet to a customer for $8,600 with credit terms 4/10,n30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? Multiple Choice 8,250 Casti Accounts receivable 3,250 8,256 Cash Sales Accounts receivable 344 8,00 Cash Sales discounts Accounts receivable 3.250 344 3,60 8.600 144 Gast 9810S L..county Accounts receivable Sales 9,00 344
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