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Lovell Candles had an ending balance in allowance for doubtful accounts of $6,000 in its June 30, 2019 financial statements. If Lovell uses the percentage
Lovell Candles had an ending balance in allowance for doubtful accounts of $6,000 in its June 30, 2019 financial statements. If Lovell uses the percentage of accounts receivable ending balance method for estimating bad debt expense, and its estimated uncollectible percentage is 3%, what was the ending accounts receivable balance reported in the June 30, 2019 financial statements? Select one: a. $415,000 b. $375,000 o c. $250,000 d. $200,000 OOO Winder Inc.'s stockholders' equity section of its balance sheet indicated the following balances: Common Stock - $20 par value, 12,000 shares issued and outstanding Paid-in Capital in excess of par value, common stock Retained Earnings $240,000 $4,100,000 $3,100,000 The company declared a 5% stock dividend on a day when the stock's market value was $610 per share. The journal entry on this day will include: Select one: o a. A credit to Stock Dividends Distributable for $366,000 b. A credit to Stock Dividends Distributable for $12,000 c. A debit to Retained Earnings for $12,000 d. A credit to Paid-in capital in excess of par value for $366,000
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