D Question 1 D Question 3 The following selected account balances were taken from ABC When a company writes-off a spectate specific customer's account Company's general ledgers for 2027: and the balance in the accounts receivable account is: Inventory January 1.-7827 December 31,-2027 Accounts payable 326, 408 Salaries payable decrease net income and decrease accounts receivable ABC Company's income statement for 2027 appears below: O no effect on net income and no effect on accounts receivable Sales revenue $543,850 Other expense $ 38: 648 O decrease net income and no effect on a ccounts receivable Net income Calculate ABC Company's operating cycle for 2027 O no effect on net income and d lecrease accounts receivable Increase net income and no effect on accounts receivable O none of the above choices are correct D Question 4 D Question 2 Sand Company reported the following information for 2026: accounts receivable . $61. sales discounts .. ... On May 28, XYZ Company purchased inventory for $29,600 on account. ............... The discount terms were 6/20, n/50. XYZ Company paid one-f gross profit . f of its bill on June 19, and paid bad debt expense the final one-fourth of its bill on July 1. sales revenue . beginning inventory Calculate the total amount of cash paid by XYZ Company for its freight-out " purchase of inventory. sales returns & allowances purchase discounts .. ... Calculate Sand Company's ending inventory for 2026. D Question 7 At January 1, 2026, Betty DeRose, Inc. reported an allowance for doubtful accounts with a $26,270 credit balance. During as uncollectible accounts receivable Question 5 totaling $31,960 and recorded $11, 310 of recoveries related to customers that had been written-off in the previous year schedule: prepared the following aging Watrous Company uses the net credit sales method to estimate bad not past due Accounts Receivable % Uncollectible be uncol During 2028, Watrous reported net credit sales 34 days past due of $480,600 and collected a to 35-69 days past due $ 57, 080 asso during 2028 total of $430,080 cash from its credit 70-104 days past due $ 22,080 previously written offcollectible and recorded recoveries of days past due $ 15, 080 that the $13, Beer collections given previously). At January 15 2028 : cash Calculate the amount of bad debt expense recorded by Betty bunts receivable of $167,000 and had an allowance for DeRose, Inc. for 2026. doubtful accounts with a $28,000 credit balance. r 31, 2028. Calculate the net realizable value of Watrous Company's accounts D Question 8 Question 6 ABC Company employs a periodic inventory system and sells its inventory to customers for $28 per unit. ABC Company owing inventory information for the month of May: ABC Company employs a periodic inventory system and reported the following inventory information ntory information for the month of March: May 1 Beginning inventory 5,100 units @ $11 cost per unit March 1 Beginning inventory 3,600 units @ $14 cost per unit May Sold 4 590 :200 May 1 Purchased 2 509 unit March 22 purchased 3:god units @ $19 cost per unit ed 2,500 units @ $16 cost per unit y 19 Sold 2, 400 units a units cost per unit March 29 Purchased 3,300 units e $13 cost per unit May 2 Purchased 3,100 units @ $22 cost per unit by 26 Sold 1,900 units Using the weighted average method, ABC Company's cost of, goods May 2 Purchased 1,200 units @ $14 cost per unit sold for March totaled $101,144. ABC Company reported operating expenses of $34,000 for May Calculate the dollar amount of ending inventory shown on ABC and they had an income tax rate of 37%. Company's March 31 balance sheet using the FIFO m Calculate the amount of net income shown on ABC Company's income statement for May using the LIFO method