Question 16 3 pts Accounts Receivable is 120,000, Sales are $60,000, balance in the Allowance for Doubtful Accounts is a credit of $900, and the % of uncollectible credit sales is 5%. If a company is using the Allowance method, and the Balance Sheet method, what would be the adjusting entry needed to account for uncollectible accounts? Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $2,100 Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $6,000 O Debit to Bad Debt Expense and credit to Allowance for Doubtful Accounts for $5,100 O Credit to Bad Debt Expense and debit to Allowance for Doubtful Accounts for $6,000 Question 17 3 pts A company purchased a tract of land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The salvage value of the land is expected to be $250,000. The depletion expense per ton of ore is: $0.75 O $6.00 O $0.625 O $0.875 Question 18 3 pts Ngu owns equipment that cost $93,500 with accumulated depreciation of $64,000. Ngu sells the equipment for $33,000 cash. Compute the amount of gain or loss on the sale. O $3,500 gain O $3,500 loss O $5,500 loss O $5,500 gain Question 19 3 pts The total cost of an asset less its accumulated depreciation is called: Present value Book value Replacement cost Historical cost