Q (13) At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $764. During the year, previously written off accounts of $131 are reinstated and accounts totaling $734 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be

a.$161

b.$734

c.$131

d.$764

Q(14) On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $23,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of

a.$572

b.$575

c.$582

d.$585

Q(16) Merchandise is purchased for $5,400 on September 2 subject to terms of 2/10, n/30, FOB destination. What is the cost of the merchandise if paid on September 12, assuming the discount is taken?

a.$5,184

b.$5,513

c.$5,292

d.$5,621

Q(18) An aging of a company's accounts receivable indicates that the estimate of uncollectible receivables totals $4,747. If Allowance for Doubtful Accounts has a $1,295 credit balance, the adjustment to record the bad debt expense for the period will require a

a.debit to Bad Debt Expense for $4,747.

b.credit to Allowance for Doubtful Accounts for $1,295.

c.debit to Bad Debt Expense for $3,452.

d.debit to Bad Debt Expense for $6,042.

Q(19) The maturity value of a $229,200, 8%, 45-day note receivable dated July 3, assuming a 360-day year, is

a.$247,536

b.$231,492

c.$229,200

d.$238,368