Northeastern Company on August 10 sells merchandise on account to El Centro Co, for $7,000, terms 2/10, n/30. On August 15 El Centro Co. returns merchandise worth $1,000 to Northeastern Company. On August 18 payment is received from El Centro Co. for the balance due. What is the amount of cash received? a. $5,000 b. $5,500 c. $5,880 d. $6,000 An aging of a company's accounts receivable indicates that $15,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $2,000 debit balance, the adjustment to record bad debts for the period will require a a. debit to Bad Debt Expense for $2,000. b. debit to Allowance for Doubtful Accounts for $13,000. C. debit to Bad Debt Expense for $15,000. d. credit to Allowance for Doubtful Accounts for $17,000