Common, Inc. reported the following on its financial statements at year- end 2019: Sales revenue Accounts receivable Allowance for uncollectible accounts Bad debt expense Cost of goods sold $15,800 $1,300 $300 $350 $9,460 What is the net realizable value of Commons accounts receivable at the end of 20192 $1.000 $1,300 $950 $650 Question 27 3 pts $1,300 $950 $650 Question 27 Accounts receivable are best described as: Liabilities that a company owes to suppliers Amounts a company has previously received from customers Amounts a company has previously paid to suppliers Assets that represent the amount owed by customers to company Question 28 3 pts 460 (or the month endin June 2019 Hi Depos stomathe by Hilton bunal Hinkton, Inc.'s cash ledger reports a balance of $44,460 for the month ending June 30, 2019. However, the bank statement shows that Hinkton's balance is $41,440. Additional information from June's bank statement and company records reveals the following: $5,520 $330 $1,200 Deposits outstanding (made by Hinkton but not shown on bank statement) The bank deducted service fees from Hinkton's account NSF check (customer's check that Hinkton deposited did not clear the bank) Checks outstanding (written by Hinkton but not shown on bank statement) An automatic withdrawal for insurance was made on June 30 The bank paid Hinkton interest $4,640 $700 $90 What is Hinkton's reconciled cash balance as of June 30, 20197 $42.320 $40 320 $42.340 $40,020 Question 29 3 pts Seamon's, Inc. uses the periodic FIFO method to account for its inventory Seamon's, sold 5,250 units of inventory on August 25. During the month of August, it had the following transactions in its inventory account: Transaction Number Unit Total of Units Cost Cost August 1 Beginning 400 $8.00 $3,200 inventory Purchase August 5,400 $8.30 $44,820 10 $48,020 5,800 Total Inventory Available for Sale What amount would Seamon's record as cost of goods sold? $43 455 $48,020 $3,200 $44,820 $44,820 3 pts Question 30 What type of account is Cost of goods sold? asset account liability account expense account revenue account 3 pts Question 31