Crimson Inc. recorded credit sales of $881,000, of which $590,000 is not yet due, $200,000 is past due for up to 180 days, and $91,000 is past due for more than 180 days. Under the aging of receivables method, Crimson Inc. expects it will not collect 5% of the amount not yet due, 18% of the amount past due for up to 180 days, and 22% of the amount past due for more than 180 days. The allowance account had a debit balance of $4,400 before adjustment. After adjusting for bad debt expense, what is the ending balance of the allowance account? Multiple Choice O $98,620 O $89.920 $85,520. $29,500. O On August 1, 2021, Turner Manufacturing lends cash and accepts a $8,000 note receivable that offers 2% interest and is due in nine months. How would Turner record the year-end adjustment to accrue interest in 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) 157 157 160 160 A. Interest Revenue Interest Receivable B Interest Receivable Interest Revenue Interest Receivable Interest Revenue D. Interest Receivable Interest Revenue 157 157 67 67 Multiple Choice Option A Option B Option C O Option D Using the income statement method for accounting for uncollectible accounts, a company estimates that 2.5% of credit sales will eventually become uncollectible. If credit sales during the year are $400,000 and accounts receivable at the end of the year are $80,000, the adjustment for estimated uncollectible accounts will require a: Multiple Choice Credit to Accounts Receivable for $2,000. Debit to Bad Debt Expense for $10,000. Debit to Allowance for Uncollectible Accounts for $10,000. Credit to Bad Debt Expense for $8,000