QUESTION 30 Drew Corp had a beginning balance on January 1, 2019 in Accounts Receivable of $200,000 and a beginning credit balance in the Allowance for Doubtful Accounts of $4,000. During 2019, Drew sold $1,000,000 of goods on credit and collected $800,000. If Drew estimates that 2% of their ending accounts receivable will eventually not be collected, the adjusting journal entry for the Bad Debt Expense will include a credit to Allowance for Doubtful Accounts of A $ 8,000 B. none of the listed choices C. $4,000 D. $ 16,000 E. $ 6,980 QUESTION 31 Still on Drew, everything is the same except during the year, the company wrote of $2,000 in bad debts. Drew's ending balance in the allowance for doubtful accounts, under this scenario, would be: A none of the listed choices B. $ 4,000 C. $ 7,960 D. $ 16,000 E. $ 6,960 QUESTION 32 John is buying a motorhome. He has the following options: Option 1: Purchasing the motorhome for $62.880 from Honest Susie. Under this deal he would pay 10% down and making 60 equal monthly which would include interest at 6%. Not being complete sure of the trustworthiness of Susie, he called the bank and, indeed, 6% was the going rate on such purchases Option 2: Dealing Dave has offered the bus of $75,000. Under this deal, he would pay no money down and annual interest payments of 2%. Then at the end of the fifth year, he would pay the $75,000 Option 3: Mostly Honest Bill would sell him the bus to $72,000. Under this deal he would put no money down and pay the 72,000 in 48 equal monthly payments that include interest at 3% What would be the monthly payments under Mostly Honest Bill's deal? A $ 2,849.60 B. $4,600.63 C. $1,593.67 D. $ 1,690.92 E. none of the listed choices