QUESTION 3 High Step Shoes, had annual revenues of $185.000, expenses of $103,700 and pand dvidends of $18.000 durng the eurent year The reaad ag before closing had a balance of $297,000 The ending retained earnings balance after closing $185,000 $63.300 O $81,3009 O $360,300 O $378,300 QUESTION 4 Which of the following is not true about the Allowance for Doubtful Accounts? It is a contra asset account It is used instead of reducing accounts receivable directly. O It is debited when uncollectible a ccounts are written off. It is a liability account O It is credited when bad debts expense is sestimated and recorded