Oswego Clay Pipe Company provides services of $48,900 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 12? Accounts Receivable Sales Revenue Accounts Receivable Sales Revenue Sales Discounts Accounts Receivable Sales Revenue Accounts Receivable Sales Discounts Sales Revenue 48,411 48,411 48,900 |48,411 489 48,900 48,900 48,900 489 49,389 Multiple Choice Option A Option B Option C O Option D During the year, Bears Inc. recorded credit sales of $640,000. Before adjustments at year-end, Bears has accounts receivable of $310,000, of which $50,000 is past due, and the allowance account had a credit balance of $2,800. Using the aging of receivables method, what would be the adjustment assuming Bears expects it will not collect 5% of the amount not yet past due and 21% of the amount past due? Bad Debt Expense Allowance for Uncollectible Accounts Bad Debt Expense Allowance for Uncollectible Accounts C. Bad Debt Expense Allowance for Uncollectible Accounts D Allowance for Uncollectible Accounts Bad Debt Expense 23,500 23,500 26,300 26,300 20,700 20,700 20,700 20,700 Multiple Choice o Option A O Option B Optionc Option D On February 1, 2021, Sanger Corp. lends cash and accepts a $9,500 note receivable that offers 14% interest and is due in six months. What would Sanger record on August 1, 2021, when the borrower pays Sanger the correct amount owed? (Do not round intermediate calculations.) A. Cash Interest Revenue Notes Receivable B Cash Accounts Receivable C. Cash Interest Revenue Notes Receivable D. Cash Notes Receivable 10,165 443 9,722 9,500 9,500 10,165 665 9,500 10,165 10,165 Multiple Choice Option A Option B O O Option C Option D Oswego Clay Pipe Company provides services of $46,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on June 10, assuming the customer made the correct payment on that date? A. 46,000 45,540 460 B 46,000 Cash Accounts Receivable Discounts Receivable Cash Accounts Receivable Interest Revenue Cash Accounts Receivable Cash Accounts Receivable Interest Revenue 45,540 460 C 46,000 46,000 D. 46,460 46,000 460 Multiple Choice Option A Option B Option C Option D