QUESTION 2 Not yet answered Marked out of 1.00 F Flag question Use the following information to answer the next two questions: Lewis Company uses the allowance method for recording its expected credit losses. It estimates bad debts at 2% of credit sales, which were $900,000 during the year. On December 31, the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts had a balance of $12,200 before adjustments What is the amount of bad debt expense Lewis Company will report on their Income Statement this year? Fi Select one: a. 3,000 b. 18,000 C.2,756 d. 17,756 e. 12,200 Save Answers Previous page Next page "'y suosu 'puons ' 'ou ) , AL 209. Survey 0' Accounting Principles / Chapter 8 / HW Assignment 7 (Chapter 8) QUESTION 3 Not yet answered Marked out of 1.00Flag question Ass At what amount will accounts receivable be reported on Lewis's December 31 Balance Sheet (i.e., what is the Net Realizable Value of its accounts receivables)? Select one: a. 137,800 Ob. 132,000 C. 134,800 d. 119,800 e. 150,000 Finis Save Answers Previous page Next page