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On average, 5% of total accounts receivable has been uncollectible in the past. At the end of the year, the balance of accounts receivable is $100,000 and the allowance for doubtful accounts has a credit balance of $500. Credit sales during the year were $150,000. Using the aging of accounts recelvable method: Multiple Choice the allowance for Shubtful accounts balance should be $7,500, after adjustment. more information is required in order to estimate bad debt expense. the estimated bod debt expense is $7,500. the estimated bad debt expense is $5,000. Which of the following statements is true? Multiple Choice Long-lived tangible assets will not be used up within one year, but there is no minimum useful life for long-lived intangible assets. All long-lived intangible assets must be expensed over a period of 40 years or less. Intangible assets with unlimited or indefinite lives are not amortized. Items in a company's inventory that are not expected to be sold in the next year are considered long-lived assets