For question 9-10, use the following information: The December 31, 2019 trial balance of Korlan Company before adjustments include the following accounts: Debit Account Allowance for uncollectible accounts Sales Sales returns and allowances Accounts receivable Credit $ 1,000 1,000,000 $ 100,000 500,000 Korlan Company also has the following information for its accounts receivable and the estimated percentages of bad debts for different past-due amounts: Age Group (Days past due) 0-30 31-60 61-90 Accounts Receivable $ 300,000 150,000 50,000 Estimated Percent Uncollectible 3% 4% 10% 9.) If Korlan Company estimates its uncollectible accounts expense based upon 3% of net sales, what amount should Korlan Company record as Uncollectible Accounts Expense for 2019? [hint: Percent of sales method] (a.) Uncollectible Accounts Expense: 15,000 (b.) Uncollectible Accounts Expense: 27,000 (c.) Uncollectible Accounts Expense: 29,700 (d.) Uncollectible Accounts Expense: 30,000 (e.) None of the above 10.) If Korlan Company estimates its uncollectible accounts expense based on the estimated percentages of bad debts for different past-due amounts, what amount should Korlan Company record as Uncollectible Accounts Expense for 2019? [hint: Aging method] (a.) Uncollectible Accounts Expense: 15,000 (b.) Uncollectible Accounts Expense: 16,000 (c.) Uncollectible Accounts Expense: 19,500 (d.) Uncollectible Accounts Expense: 20,000 (e.) None of the above 11.) Characteristics of Accounts Receivable include: (a.) they are formal written instruments (b.) they include an interest rate that must be paid on the face amount (c.) their maturity value is calculated as face value + interest income (d.) they are normally expected to be collected within a relatively short period, such as 30 or 60 days (e.) all of the above are correct