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Hull Company reported the following income statement information for the current year: Sales Beginning inventory Cost of goods purchased Ending inventory $410,000 $132,000 $273,000 $144,000

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Hull Company reported the following income statement information for the current year: Sales Beginning inventory Cost of goods purchased Ending inventory $410,000 $132,000 $273,000 $144,000 The beginning inventory balance is correct. However, the ending inventory figure was understated by $20,000. After correcting this information, the correct gross profit would be: Select one: A. $169,000. B. $129,000. C. $142,000. D. $112,000. E. $149,000. Calistoga Produce estimates bad debt expense at 0.20% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $484,000 and $1,470 (credit) respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $329,000 and $308,000, respectively, and $1,370 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is: Select one: O A. $1283 B. $758 O C. $303 D. $398. The following information relates to Halloran Co.'s accounts receivable for 2021: Gross accounts receivable balance, 1/1/2021 Credit sales for 2021 Accounts receivable written off during 2021 $ 865,000 3,370,00 0 61,000 3,090,00 0 219,000 Collections from customers during 2021 Allowance for uncollectible accounts balance, 12/31/2021 What amount should Halloran report for accounts receivable, before the allowance, at December 31, 2021? Select one: A. $1,075,000. B. $1,136,000. O C. $856,000. D. None of these answer choices are correct. Oswego Clay Pipe Company sold $46,400 of pipe to Southeast Water District #45 on April 10 of the current year with terms 4/15, n/60. Oswego uses the net method of accounting for sales discounts. of What entry would Oswego make on June 10, assuming the customer made the payment on that date? Select one: A. Cash 46,400 Fit Accounts receivable 44,544 Tin Discounts receivable 1856 OB Cash 46,400 46,400 Accounts receivable Accounts receivable 46,400 C. Cash 46,400 Accounts receivable 44,544 Sales discounts forfeited 1856 D. Cash 48,256 Accounts receivable 46,400 Sales discounts forfeited 1856

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