Question 11 When the allowance method of recognizing uncollectible accounts is used, what is the net effect of a collection of an account previously written off on Net Income and the Allowance for Uncollectible Accounts, respectively? Not yet answered Points out of 3.00 Select one: a. Increase, Decrease Flag question b. Increase, No Effect c. No Effect, Decrease d. No Effect, Increase e. Increase, Increase The use of a Purchase Discounts Lost account implies that the recorded cost of a purchased inventory item is its: Question 12 Not yet answered Points out of 3.00 Select one: a. Invoice Price b b. Invoice price plus the purchase discount c. Invoice price less the purchase discount allowable, when taken Flag question d. Invoice price less the purchase discount allowable, whether or not taken Question 13 Not yet answered Starting 1/1/15 and continuing each January 1 for four additional years, Case Corporation will deposit $10,000 in an account that will initially earn interest at a rate of 5%, credited each year on December 31. After the last deposit is made on 1/1/19, the account will earn 10% interest. What will be the approximate amount of the investment fund on December 31, 2020? Points out of 3.00 Flag question Select one: a. $66,860 b. $60,782 c. $67,012 d. $70,363 e. $73,546