On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,600: Allowance for Doubtful Accounts, credit balance of $1,101 What amount should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible? Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is: Multiple Choice 2.000 Allowance for Doubtful Accounts Accounts Receivable-A. Hopkinse Accounts Receivable-A. Hopkins Cash 2.00 2,000 2,000 Bad debts expense 2,000 2.000 Accounts Receivable A. Hopkins bad debts expense (Cash Accounts Receivable A. Hopkins 2,600 (cash Accounts Receivable A Hopkins 2,660 Peavey Enterprises purchased a depreciable asset for $29,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four year useful life. Assuming the asset's salvage value is $3,500, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of Multiple Choice $6,50000 $5.416,67 626.00000 5735.00 A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable Allowance for uncollectible accounts Net Sales $376,000 debit 510 credit 810,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? Multiple Choice o o o o o