QUESTION 23 A credit balance in the Allowance for Doubtful Accounts a. indicates that actual bad debt write-offs have exceeded previous provisions for bad debts b. indicates that actual bad debt write-offs have been less than what was estimated c. is not the normal balance for that account d. cannot occur if the percentage of receivables method of estimating bad debts is used QUESTION 24 Pierce Company sold to Stanton Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. P the following entries does Pierce make to record this sale? a. Accounts Receivable Stanton, debit $20,000; Sales, credit $20,000 b. Accounts ReceivableStanton, debit $20,100; Sales, credit $20,100 c. Accounts Receivable Stanton, debit $20,000; Sales, credit $20,000, and Delivery Expense, debit $500; Cash, credit $500 d. Accounts ReceivableStanton, debit $19,600; Sales, credit $19,600, and Accounts Receivable Stanton, debit $500; Cash, credit $500 QUESTION 25 Which of the following are guidelines for behaving ethically? I. Identify the consequences of a decision and its effect on others. II. Consider your obligations and responsibilities to those affected by the decision. III. Identify your decision based on personal standards of honesty and fairness. a. I and II. b. I, II, and III. Blackboard Show Timer Question Completion Status 4 points QUESTION 23 A credit balance in the Allowance for Doubtful Accounts a, indicates that actual bad debt write-offs have exceeded previous provisions for bad debts b. indicates that actual bad debt write-offs have been less than what was estimated c. is not the normal balance for that account d. cannot occur if the percentage of receivables method of estimating bad debts is used 4 points QUESTION 24 Pierce Company sold to Stanton Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Pierce prepaid the $500 shipping charge. Which of the following entries does Pierce make to record this sale? a. Accounts Receivable Stanton, debit $20,000, Sales, credit $20,000 b. Accounts ReceivableStanton, debit $20,100 Sales, credit $20,100 c. Accounts Receivable - Stanton, debit $20,000; Sales, credit $20,000, and Delivery Expense, debit $500; Cash, credit $500 d. Accounts Receivable-Stanton, debit $19,600; Sales, credit $19,600, and Accounts Receivable Stanton, debit $500; Cash, credit $500 4 points QUESTION 25 Which of the following are guidelines for behaving ethically! 1 Identify the consequences of a decision and its effect on others. IL Consider your obligations and responsibilities to those affected by the decision III. Identify your decision based on personal standards of honesty and faimess. a. I and II b. I, II and III Click Save and submit to save and submit. Click Save All Astosowe all ans. Saver