Collaborate company's management estimates that 5% of net credit sales will be uncollectible for the year 2019. Net credit sales for the amounted to $280,000. What is the amount of Bad Debts Expense reported on the income statement for 2019? year A) $14,000 B) $7000 C) $10,000 D) $18,000 44) The Allowance for Bad Debts has a credit balance of $8000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $15,000. What will be the amount of Bad Debts Expense reported on the income statement? A) $23,000 B) $15,000 C) $8000 D) $7000 45) The Allowance for Bad Debts account has a debit balance of $8,000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $15,000. What amount of bad debts expense will be reported on the income statement? A) $4,000 B) $7,000 C) $23,000 D) $15,000 FC E 46) On October 1, 2019, ABC Company loaned A. Jenkins $13,000 at an annual interest rate of 3% with a maturity date of April 1, 2020. On October 1, 2019, ABC Company will record A) a credit to Notes Payable - A. Jenkins of $13,000 B) a debit to Notes Receivable - A. Jenkins of $13,000 C) a debit to Notes Receivable - A. Jenkins of $13,390 D) no entry since the note is due on April 1, 2020 47) On October 1, 2019,Jewelry Specialists Company made a loan to one of its customers. The customer signed a 6-month note for $100,000 at 15%. The total interest earned on the note (to the nearest dollar) is A) $15.000 B) $3,750. C) $7,500. D) $1,250. Cha Text