Given the following 12/31/21 account balances for the James Company, prior to any year-end adjustments.

Net Sales $11,000 credit

Accounts Receivable $ 5,000 debit

Allowance for Bad Debts $ 80 credit

An aging of receivables estimates $440 of accounts receivable are uncollectible.

1). Assuming James uses the Aging Method, the 12/31/21 adjusting entry to Bad Debt Expense will be: a. $280 b. $520 c. $200 d. $360 e. $440 (answer D, explain)

2)Assuming James uses the Aging Method, the Allowance for Bad Debts on the 12/31/21 balance sheet will be: a. $280 b. $520 c. $200 d. $360 e. $440 (answer E, explain)

3)Assuming James uses the Aging Method, the NRV of Accounts Receivable on the 12/31/21 balance sheet will be: a. $4,640 b. $4,720 c. $4,480 d. $4,560 e. $4,800 (answer D, explain)