On December 31, 2021, ABC had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $70,000 and $1,100, respectively. During 2022, ABC wrote off $1,825 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,850 at December 31, 2022. Bad debt expense for 2022 would be: Multiple Choice O $6.576 S000 $5.25 $5.850 At the beginning of 20X1. L5h Hospital reported Accounts Receivable $9500 and Allowance for Uncollectible Accounts $1800 (credit). During 20X1, before recording the year-end adjusting entries, the Hospital recorded credit sales revenue $20000 and wrote off accounts receivable $400. The following balance was reported on December 31, 20X1. before any adjustment Accounts Receivable - $13000. The Hospital estimates uncollectible accounts based on an aging of accounts receivable as shown below Age Group Not yet due 0-30 days past due More than 30 days past due Total Amount Estimated Percent Receivable Uncollectible $ 8,000 10% 4,000 20% 1,000 50% 13,000 $ Required: Please choose the best answer to the following questions based on the above Information On December 31, 20X1. what is the amount of accounts receivable that the Hospital expects to collect from customers? O $13000 $10500 O $7700 O $10900 What is the amount of bad debt expense that the Hospital recorded in its December 31, 20x1, adjustment to the allowance account O $300 $2100 $1700 O $700 How much cash did the Hospital collect on Accounts Receivable in 20X1? 516100 $16500 O $20000 O $19600 Madison Outlet has the following Inventory transactions for the year. Date Jan. 1 Mar. 14 Transaction Beginning inventory Purchase Numbers of Units 18 15 Unit Cost $200 37 Total cost $2,000 4,500 $6,500 300 Jan. 1 - Dec. 31 Total sales to customers 12 What amount would Madison report for ending inventory using FIFO? Multiple Choice O $2600 O $2.000 O $3.500 O $3.500