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plz help with the following 3 5. Lankton Company has the following account balances at year-end: Accounts receivable $80,000 Dr. Allowance for doubtful accounts 4,800
plz help with the following 3
5. Lankton Company has the following account balances at year-end: Accounts receivable $80,000 Dr. Allowance for doubtful accounts 4,800 Cr. Sales discounts 3,200 Dr. Lankton should report accounts receivable at a net amount of 6. Wellington Corp. has outstanding accounts receivable totaling $6 million as of December 31 and sales on credit during the year of $30 million. There is also a debit balance of $24,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year- end adjustment to record bad debt expense? A. $2,400,000 B. $ 456,000 C. $ 480,000 D. $ 504.000. 7. AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the gross method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale? a. Debit Accounts Receivable for $24,750. b. Debit Accounts Receivable for $24,750 and Sales Discounts for $250. C. Debit Accounts Receivable for $25,000. d. Debit Accounts Receivable for $25,000 and Sales Discounts for $250. D Focus O PHILIPS
plz help with the following 3
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