QUESTION 12 Klopp reported the following information on its 2020 financial statements ($ in millions): Accounts Receivable (Net) Allowance for Uncollectible Accounts Sales Revenue 2020 8432 131 25,619 2019 7888 123 Bad debt expense for 2020 was $57 million. How much cash ($ in millions) did Klopp collect from customers during 2020? $24,969 $25,018 $25,067 $25,277 Click Save and Submit to save and submit. Click Save All Answers to save all answers. MacBook Air QUESTION 13 Use the information below for the following two questions: Corporation had a debit balance in the allowance for doubtful accounts of $8,000 as of 12/18/2020. Between 12/18/2020 and 12/31/2020, it wrote off $10,800 of accounts receivable and collected $3,150 on accounts previously written off. The balance in Accounts Receivable was $380,000 at 12/31/2020. Van Dijk estimates 3 percent of accounts receivable will become uncollectible. How much bad debt expense will Van Dijk report in 2020? $27,050 $10,550 $7,400 $4,250 Click Save and Submit to save and submit. Click Save All Answers to save all answers. MacBook Air R90 QUESTION 14 What will be the net realizable value (NRV) of accounts receivable on 12/31/2020? $352,950 $368,600 $369,450 $375,750 Click Save and Submit to save and submit. Click Save All Answers to save all answers. MacBook Air o go QUESTION 15 Use the Information below for the following two questions: On January 1, 2020. Pato Corp. accepted an 8 percent three-year $700,000 note from Berlusconi Co. in exchange for a service it provided to Berlusconi. The effective yield (market rate) for such a note is 10 percent. Pressent Value of 1 (3 periods) Future Value of 1 (3 periods) Present Value of an Ordinary Annuity of 1 (3 periods) Future Value of an Ordinary Annuity of 1 (3 periods) & percent 0.79383 1.25971 2.57710 3.24640 10 percent 0.75131 1.33100 2.48685 3.31000 How much sales revenue should Pato record? $651,962 $660,882 $665,181 $700,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. MacBook Air