QUESTION 15 3.125 points Save Answer A conceptual shortcoming in the Direct Write-Off Method of accounting for bad debts is that this method violates the: A. Matching Principle (aka Expense Recognition Principle) Realization principle oc Cost principle D. None of the above O E Going-concern assumption QUESTION 16 3.125 points Save Answer Fay Company received a 60-day, 15% note for $9,000 on June 16. Which of the following statements is true? O A. None of the above B. Fay should record a total receivable due of $9,225 on June 16 Fay will receive $9,000 plus interest of $1,350 at maturity The maturity value of this note is $9,225 E The principal of the note plus interest is due on August 16 ooo QUESTION 17 3.125 points Save Answer Use the following information to answer questions the next 3 questions: Following is selected information (in millions) for Vivian Company, AFTER year-end adjusting entries: For year ended December 31: 2019 2018 Net sales $50,000 $40,000 Bad debt expense 900 1,200 As of December 31: 2019 2018 Gross Accounts Receivable $ 9,900 $3,300 Allowance for Doubtful Accounts 140 90 Vivian Company financial statement information shows that: O A Gross receivables on December 31, 2019 are $9.995 million B.Net realizable value of receivables on December 31, 2019 is 59,900 million Accounts of $900 million were written off as uncollectible in 2019 D. None of the above Total sales on account for 2019 amounted to $9,900 million