OD 20. you acquired a grocery store to compete with the large parcurychom you decide to other sour customers credit forms of 30 days. The aim bu hey 0 5900.000, of which $250.000 were on credt Fow customers declared bekruptcy or left town who a borwarders, and we account wachten Dance of the accounts receive after the will off was $24.700 seal sees for the next tocat you were 31,000,000, of which $700.000 were for cimh Sox cantomnes accounts totaling 55,400 were written olit wed the entry want to 31,900 September 30, 2021 Assume te cuestions to that the percentage of credit sales method is used to estimate bad debts expense for both fiscal years 2020 and 2021. Industry standabad O of credit ales in use account to keep track of the various do) The journal entry to record the write-off of accounts receivable during 2020 should include: A A debit to bad debts expense for $4,300 OB. A credit to allowance for doubtful accounts for $4,300 OC A debit to accounts receivable for $4,300 OD. A debit to allowance for doubtful accounts for $4,300 Clear my choice The journal entry to record the estimated bad debts expense for 2021 should include: OA A debit to bad debts expense for $9,000 OB. A credit to accounts receivable for $9,000 OC. A debit to bad debts expense for $22,800 OD. A debit to bad debts expense for $7,500 Clear my choice The ending balance of the allowance for doubtful accounts at September 30, 2021 is: O A $3,200 OB. $3,600 OC $6.800 OD. Impossible to determine without additional information The accounts receivable turnover ratio for fiscal year 2021 equals: A 10.60 OB 12.88 OC 26.86 OD 32.62 Clear my choice OD 20. you acquired a grocery store to compete with the large parcurychom you decide to other sour customers credit forms of 30 days. The aim bu hey 0 5900.000, of which $250.000 were on credt Fow customers declared bekruptcy or left town who a borwarders, and we account wachten Dance of the accounts receive after the will off was $24.700 seal sees for the next tocat you were 31,000,000, of which $700.000 were for cimh Sox cantomnes accounts totaling 55,400 were written olit wed the entry want to 31,900 September 30, 2021 Assume te cuestions to that the percentage of credit sales method is used to estimate bad debts expense for both fiscal years 2020 and 2021. Industry standabad O of credit ales in use account to keep track of the various do) The journal entry to record the write-off of accounts receivable during 2020 should include: A A debit to bad debts expense for $4,300 OB. A credit to allowance for doubtful accounts for $4,300 OC A debit to accounts receivable for $4,300 OD. A debit to allowance for doubtful accounts for $4,300 Clear my choice The journal entry to record the estimated bad debts expense for 2021 should include: OA A debit to bad debts expense for $9,000 OB. A credit to accounts receivable for $9,000 OC. A debit to bad debts expense for $22,800 OD. A debit to bad debts expense for $7,500 Clear my choice The ending balance of the allowance for doubtful accounts at September 30, 2021 is: O A $3,200 OB. $3,600 OC $6.800 OD. Impossible to determine without additional information The accounts receivable turnover ratio for fiscal year 2021 equals: A 10.60 OB 12.88 OC 26.86 OD 32.62 Clear my choice
