Merchandise is sold for cash. The selling price of the merchandise is $1,100 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include a credit to a. Cash for $1,177 b. Cash for $1,100 c. Sales Tax Payable for $77 Od. Sales for $1,177 Machinery was purchased on January 1 for $51,000. The machinery has an estimated life of 7 years and an estimated salvage value of $9,000. Double-declining-balance depreciation for the second year would be Oa. $11,408.16 Ob. $9,408.16 Oc. $9,908.16 d. $10,408.16 After all of the account balances have been extended to the Balance Sheet columns of the end-of-period spreadsheet, the totals of the debit and credit columns show debits of $32,189 and credits of $37,191. This indicates that Oa. the amounts are out of balance and need to be corrected. Ob. the company has a net income of $5,002 for the period. Oc. the company has a net loss of $5,002 for the period. Od. neither net income or loss can be calculated because it is found on the income statement Allowance for Doubtful Accounts has a debit balance of $918 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible receivables of $16,482. Which of the following entries records the proper adjusting entry for bad debt expense? Ca. debit Bad Debt Expense, $17,400 credit Allowance for Doubtful Accounts, $17,400 Ob. debit Bad Debt Expense, $918 credit Allowance for Doubtful Accounts, $918 c. debit Bad Debt Expense, $15,564 credit Allowance for Doubtful Accounts, $15,564 Od. debit Allowance for Doubtful Accounts, $16,482 credit Bad Debt Expense, $16,482