of the year, a company had accounts receivable of $220,000. At the end of the year. accounts receivable of $340,000. 1, the company feels it is it is probable that it will losean begny had acce cash collections for the year? $220 At t s40,000. the year, the company had credit sales of ble hl eo00. What were cash collections cc d. $700,000. e. $120,000. $580,000 h $340,000, $920,000. has the following at the end of the year eed to keep the paint Purchase Cost S5 S9 Item A Item B 100 200 Market Value $8 $7 amount would ending inventory be reported in the balance sheet? For what a. $1,900. b. $2,300 c. $2,200 d. $2,400. e. $2,600. 44. A company borrowed $8 y borrowed $8,000 from First Bank and signed a promissory note. What entry should th company record? a. Debit Cash, $8,000; Credit Notes Receivable, $8,000. b. Debit Notes Receivable, $8,000; Credit Cash, $8,000. c. Debit Cash, $8,000; Credit Notes Payable, $8,000. d. Debit Notes Payable, $8,000; Credit Cash, $8,000. eriod? 45. Using the allowance method to account for uncollectible accounts, the write off of an actual bad results in: a. An increase in total assets. b. An increase in total expenses. c. A decrease in total assets. d. No change to the accounting equation. e. Two of the other answers are correct Which depreciation method generally results in the lowest net income in the first life? a. Double Declining Balance b. LIFO c. Activity-based an a 46. d. FIFO. e. Straight-line