Need help with these accounting questions on Receivables:

1.

Guinevere Company has the following data extracted from its Accounts Receivable records at June 30, 2011

Customer	Balance	Current	31 -75 days	Over 75 days
A	$8,000	$5,000	$2,000	$1,000
B	$2,000	-	$2,000	-
C	$4,000	$4,000	-	-
D	$9,000	$2,000	$1,000	$6,000
E	$3,000	$2,000	-	$1,000
F	$6,000	$6,000	-	-
G	$7,000	$3,000	$3,000	$1,000
Totals	$39,000	$22,000	$8,000	$9,000

- Guinevere's sales terms are 1/15 n/30 and it records sales at the gross amount of the invoice. - Guinevere's year end is June 30 - The unadjusted balance in the Allowance for Doubtful Accounts at June 30 is $8,000 dr. - Guinevere makes average sales of $2,000,000 per year and averages write offs of uncollectible balances of $100,000 per year. - Sales for the year ended June 30, 2010 are $1,400,000 credit sales and $400,000 cash sales - Guinevere has a very conservative receivables management strategy. - No adjusting entries have been recorded at June 30 If Guinevere uses the Allowance Method (percentage of sales) to estimate bad debts, the adjusting entry at June 30 to record the provision for uncollectible accounts would involve a credit to the "Allowance for Uncollectible Accounts" of:

$78,000

$90,000

$70,000

Some other amount

$40,000

2.

Chocolate Corner Company had the following transactions during the current year: Apr. 8. Received a $7,050, 75-day, 8% note from Lance Armstrong in payment of account. May 24.Wrote off customer Joe Nutella's account against the Allowance for Uncollectible Accounts, $150 June 22. Received payment of Lance Armstrong's note in full. Sept. 10.Gave a $5,600, 90-day, 9% note to Herbert Anson in payment of account. Sept.18. Received payment of Joe Nutella's account, written off May 24. Dec 9. Paid principal and interest due on note to Herbert Anson. Please Note: a 360-day year is standard for many such interest computations - for this course interest is to the nearest month rather than precisely to the day. Round interest to the nearest dollar (no cents). If needed record the above transactions in general journal form. The journal entries on Sep 18th have the following:

Dr. Allowance for Uncollectible Accounts $150

Cr. Allowance for Uncollectible Accounts $150

None of the other alternatives are correct

Cr Cash $150

Dr. Notes Receivables - J. Nut $150

3.

Use the information in the table to answer the question below about Mary's Boutique

YEAR	SALES	CASH COLLECTIONS	WRITE OFFS
2002	450,000	410,000	35,000
2003	900,000	450,000	25,000
2004	800,000	590,000	47,000
2005	820,000	750,000	20,000

If Mary's Boutique uses the direct write off method, what is the balance in Accounts Receivable at the end of 2005?

$127,000

$770,000

$50,000

$2,970,000

$643,000