Question 17 2 pts When does an account become uncollectible? when accounts receivable is converted into notes receivable O when a discount is available on notes receivable there is no general rule for when an account becomes uncollectible at the end of the fiscal year Question 18 2 pts The debit balance in Cash Short and Over at the end of an accounting period is reported as an expense on the income statement income on the income statement an asset on the balance sheet O a liability on the balance sheet ULJCION What is the type of account and normal balance of Allowance for Doubtful Accounts? contra asset, credit asset, debit O asset, credit O contra asset, debit Question 20 2 pts Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $390,000 and credit sales are $1,300,000. An aging of accounts receivable shows that approximately 5% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment? Bad Debt Expense 17,000 Allowance for Doubtful Accounts 17,000 Bad Debt Expense 19,500 Allowance for Doubtful Accounts 19,500 Bad Debt Expense 22,000 Allowance for Doubtful Accounts 22,000 Bad Debt Expense 65,000 Allowance for Doubtful Accounts 65,000 Question 21 2 pts A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the company's accounts? debit Accounts Payable; credit Cash debit Cash; credit Accounts Receivable debit Cash; credit Accounts Payable debit Accounts Receivable; credit Cash Question 22 2 pts Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per bank, 10/31 $17,000 Note receivable collected by bank 4,800 Outstanding checks 6,500 Deposits in transit 3,000 Bank service charge 50 NSF check 2.300 Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation. $11,050 $19,450 $15,950 O $11,150