Can you explain 2,3,5

Bowser Corporation During 2016, Bowser Corp. recorded credit sales of $825,000 Based on prior experience management uses the percentage of credit sales method and estimates a 1.2% bad debt rate on all credit sales. The Accounts receivable balance as of December 31, 2016 is $252,000. Prior to adjustment, the Allowance for Doubtful Accounts had a debit balance of $450. 1. Refer to Bowser Corporation. The adjusting entry to record Bad Debt Expense for 2016 would be an entry for the amount of a. $572,550 b $8,064 c. $25,950 261400 $26,400 Refer to Bowser Corporation. The net accounts receivable balance on December 31, 2016 after adjusting entries would be: 2. 4.0 $251,550 $226,050 c. $225,600 d. $243,936 The following line item appeared on a balance sheet: Receivables, less allowance of (Ssoo If Bad Debt Expense was $4/ 3. 400 What was the gross balance in Accounts Receivable? $4,500 S3.500 c. $3,600 d. $4,400 4. Peach Company had a beginning Accounts Receivable balance of $495,000 and an ending Accounts Receivable balance of S605,000. Assuming cash collections totaled S1,020,000, what was Peach Company's ctedit sales. a. $1,240,000 $1,130,000 c. $1,020,000 d. $1,100,000 besioo Lake Company sells custom built accounting software, and sells a software package to 2600 Labs Inc. 2600 Labs signs a contract to purchase the custom built software and later Lake Company builds and 5. implements the accounting software into 2600's ERP system. Lake gives 260090 day terms for payment. Conceptually, when should Lake recognize revenue -: When thecontractssigneTecausecontractsarebinding b. When payment is received When the software is built and implemented for 2600 After the 90 day terms regardless of whether 2600 has paid or not