Question 29 1.67 pts Henderson Corporation collected an account of $5,600 that had been previously written off. Henderson's accountant debited accounts receivable and credited allowance for doubtful accounts for $5,600 to reinstate the account. What is the next entry the accountant should make? Cash 5,600 Bad debt expense 5,600 O Cash 5,600 Accounts Receivable 5,600 O Accounts Receivable 5,600 Bad debt expense 5,600 O No additional entry is needed Question 14 1.67 pts Financial statements are prepared by a company's management including the Controller, VP of Finance, and Director of Accounting, True O False Question 15 1.67 pts The percentage of receivables method estimates the ending balance of the allowance for doubtful accounts. O True O False Question 16 1.67 pts Internal controls are systems set up by an auditor to help them better perform the audit. O True O False 1.67 pts Question 17 Corner Grocery Corporation sells its product at $65 per unit. In the previous period, it sold 850 units on credit and another 50 units for cash. It estimated that 10% of its accounts receivable would prove uncollectible. What is the net realizable value of accounts receivable? O $52,000 O $52,975 O $49,400 O $52,650 O $49,725