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Question 3 An aging of a company's accounts receivable indicates that $8200 are estimated to be uncollectible. 1If Allowance for Doubtful Accounts has a $5470
Question 3 An aging of a company's accounts receivable indicates that $8200 are estimated to be uncollectible. 1If Allowance for Doubtful Accounts has a $5470 debit balance, the adjustment to record bad debts for the period will require a O debit to Allowance for Doubtful Accounts for $13670. debit to Bad Debt Expense for $8200. debit to Bad Debt Expense for $13670 credit to Allowance for Doubtful Accounts for $8200 Question 4 Equipment with a cost of $318000 has an estimated salvage value of $18000 and an estimated life of 4 years or 10000 hours. It is to be depreciated by the straight- line method. What is the amount of depreciation for the first full year, during which the equipment was used 5000 hours? $79500. $75000. $150000 $77000 Question 6 Skysong, Inc. started the year with total assets of $323000 and total liabilities of $263000. During the year the business recorded $629000 in revenues, $334000 in expenses, and dividends of $65000. Stockholders' equity at the end of the year was $260000. O$290000. $225000 O$355000
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