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Please answer both questions. I really need it. Thanks a lot! In 2022, the Golic Co. had net credit sales of $900,000. On January 1,

Please answer both questions. I really need it. Thanks a lot! image text in transcribed
In 2022, the Golic Co. had net credit sales of $900,000. On January 1, 2022, the Allowance for Doubtful Accounts had a credit balance of $22,500. During 2022, $36,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $240,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31,2022 ? $24,000$27,500$46,500$36,000 Question 10 Tony's Market recorded the following events involving a recent purchase of inventory: Recelved goods for $80,000, terms 2/10,n/30. Returned $1,600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory incroased by $76,832 increased by $78,800 increased by $77.224. increased by $77,232

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