Current Attempt in Progress Angus Corp. acquires land for $105,000 cash. Additional costs are as follows: Removal of shed $ 500 3,200 150 Filling and grading Residual value of lumber from shed Paving of parking lot Closing costs 16,000 1,350 Angus will record the cost of the land as $105,000. $109,400. $ 109,900. $126,200. Under the aging of a company's accounts receivable, the uncollectible accounts are estimated to be $10,000. The unadjusted balance for the Allowance for Doubtful Accounts is $1,500 credit. What is the amount of bad debts expense for the year? $10,000 $1,500 $11,500 $8.500 Under the allowance method for uncollectible accounts, the carrying value of receivables is the same both before and after an account has been written off. Bad Debts Expense is debited when an account is deemed uncollectible and must be written off. O the carrying amount of receivables is the same both before and after an account that had previously been written off is recovered. the recovery of an account receivable previously written off results in a credit to the Bad Debt Expense account. San for Under the allowance method for uncollectible accounts Allowance for Doubtful Accounts is closed each year to Income Summary Bad Debts Expense is debited when a specific account is written off as uncollectible. O the carrying amount of accounts receivable is greater before an account is written off than after it is written off. O the carrying amount of accounts receivable in the statement of financial position is the same before and after an account is written off. Stardust Corporation gathered the following reconciling intormation in preparing its uctover Dank reconciliation: Cash balance per books, October 31 Deposits in transit Electronic collection of account receivable Bank charge for cheque printing Outstanding cheques NSF cheque $6,200 225 1,150 25 1,700 200 The reconciled cash balance per books at October 31 is $7,125 $6,900. $5,650. $5,200