Need help with 1&2

On December 31, Year 1, the Loudoun Corporation estimated that as of its credit sales of 512.500 would be uncolectible toudoun uses the allowance method of accounting for uhcollectible accounts in February of Yeat 2 one of Loudour's curgomers failed to pay his 5 toso account and the account was written off On April 4, Year 2, this customer paid Coudoun the 51,050 Which of the following answers colrectly states the effect of the December 31, Year tadusting entry for uncolectale accolints an the financial statements of the Loudoun Corporation? Income Statement On Aanuary 1, Year 1. Phillips Compony mode a basket purchase including land, a building and equipment for $820.000. The appeased volues of the assets are $52,000 for the land, $800,000 for the building and $128.000 for equipment. Philips uses the double-declining bathnce method of depieciation foc the equipment which is estimated to have a useful life of four years and a salvage value of 510,000 . The depreciation expense for Yest t for the equipment is. (Round your intermediate petcentages to 2 decimal ploces le . 05423 | =5.425 ) Miliple Choice 564000 $32,000 On December 31, Year 1, the Loudoun Corporation estimated that as of its credit sales of 512.500 would be uncolectible toudoun uses the allowance method of accounting for uhcollectible accounts in February of Yeat 2 one of Loudour's curgomers failed to pay his 5 toso account and the account was written off On April 4, Year 2, this customer paid Coudoun the 51,050 Which of the following answers colrectly states the effect of the December 31, Year tadusting entry for uncolectale accolints an the financial statements of the Loudoun Corporation? Income Statement On Aanuary 1, Year 1. Phillips Compony mode a basket purchase including land, a building and equipment for $820.000. The appeased volues of the assets are $52,000 for the land, $800,000 for the building and $128.000 for equipment. Philips uses the double-declining bathnce method of depieciation foc the equipment which is estimated to have a useful life of four years and a salvage value of 510,000 . The depreciation expense for Yest t for the equipment is. (Round your intermediate petcentages to 2 decimal ploces le . 05423 | =5.425 ) Miliple Choice 564000 $32,000