Jumpin Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,080,000, and management estimates 4% will be uncollectible. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $1,800. The amount of Uncollectible - Account Expense reported on the income statement will be: O A. $83,200. OB. $81,400 OC. $85,000 OD. $1,800 If a corporation issues 3,000 shares of $5 par value common stock for $85,000, the journal entry would include a credit to: O A. Common Stock for $70,000. OB. Paid - in Capital in Excess of Par-Common for $85,000. O c. Paid - in Capital in Excess of Par-Common for $70,000. OD. Common Stock for $85,000. Monthly sales are $530,000. Warranty costs are estimated at 3% of monthly sales, Warranties are honored with replacement products. No defective products are returned during the month. At the end of the month, the company should record a journal entry with a credit to: O A. Estimated Warranty Payable for $15,900. OB. Warranty Expense for $15,900. OC. Sales for $15,900. O D. Inventory for $15,900. A company reports the following balances: Common Stock Paid - in Capital in Excess of Par Retained Earnings 12/31/2018 $15,000 93,000 68,000 12/31/2019 $159,000 114,000 75,000 During 2019, dividends of $12,000 were declared and paid. What is net income for 2019? O A. $19,000 O B. $5,000 O c. $7,000 OD. $12,000 Zeman, Inc, declares and distributes a 10% common stock dividend when it has 30,000 shares of $15 par value common stock outstanding. If the market value of the common stock is $25, the journal entry to record the stock dividend would include a: O A. credit to Common Stock $120,000. O B. credit to Paid - in Capital in Excess of Par-Common $30,000. O C. credit to Paid - in Capital in Excess of Par-Common $45,000. OD. credit to Common Stock $30,000