Question
Please answer all three questions per chegg guidelines 28. Which of the following increases the balance in accounts receivable? a. Collections from customers b. Recognizing
Please answer all three questions per chegg guidelines
28. Which of the following increases the balance in accounts receivable?
a. Collections from customers
b. Recognizing credit loss expense
c. Write-offs
d. Service revenues earned (payment on account)
29. Calistoga Produce estimates credit loss expense at % of revenues. The company had an allowance for credit losses of $1,650 at January 1. During the year, Calistoga's revenues were $315,000 and $1,720 in accounts receivable were written off. What is Calistoga's credit loss expense for the year?
a. $1,720
b. $1,650
c. $1,505
d. $1,575
30. Calistoga Produce estimates credit loss expense at % of revenues. The company had an allowance for credit losses of $1,650 at January 1. During the year, Calistoga's revenues were $315,000 and $1,720 in accounts receivable were written off. What is Calistoga's allowance for credit losses at December 31?
a. $1,575
b. $1,505
c. $1,650
d. $1,720
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