Newark Company has provided the following information: Cash sales, $560,000 Credit sales, $1,460,000 Selling and administrative expenses, $440,000 Sales returns and allowances, $101,000 Gross profit, $1,470,000 Increase in accounts receivable, $66.000 Bad debt expense, $44,000 Sales discounts, $54,000 Net income, $1,030,000 How much are Newark's net sales? Multiple Choice $1,865,000 O $1.954,000 Oo oo O $1,821,000 O $2,020,000 $2. Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $167,000 Credit sales, $467.000 Selling and administrative expenses, $127.000 Sales returns and allowances, $47.000 Gross profit, $507000 Accounts receivable. $275.000 Sales discounts, $31,000 Allowance for doubtful accounts credit balance, $2.900 Flyer prepares an aging of accounts receivable and the result shows that of accounts receivable is estimated to be uncolectible. How much is bad debt expense? Multiple Choice 0 $8260 0 $5.350 0 O $1150 0 $5.263 Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $128,750. Historical percentage of credit losses is 2%. Allowance for doubtful accounts has a credit balance of $525. Accounts receivables ending balance is $49,500. What is the estimated bad debt expense using the percentage of credit sales method? 0 0 0 0