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Valuing AR To estimate uncollectible, MANO Company applies the percentage of sales basis. During 2020, MANO Company had Sales Revenue of $340,000 with $30,000 of Sales Discounts and Accounts Receivable balance of $120,000. 70% of the net sales are credit sales. The company had also a credit balance of $500 in the AFDA. The net credit sales value is * O $310,000 O $217,000 $185,000 O None of the options What is the amount of estimated bad debts if the company is estimating her uncollectible as 4% of the net credit sales? O $6,510 O $7,140 O $9.010 None of the options Assume that the company uses the percentage of receivables as a method to estimate uncollectible under a percentage of 2%, the adjusting entry will be: * Debit Bad Debt Expense and Credit Accounts Receivable of $2,400 Debit Bad Debt Expense and Credit AFDA of $2,900 Debit Bad Debt Expense and Credit AFDA of $1,900 O None of the options Assume that the company decided to write-off a customer account of $500 under the direct write-off method, the entry will include a credit of * AFDA $500 Bad Debt Expense $500 O Accounts Receivable $500 w None of the options Back Next Page 8 of 10