QUESTION 4 2 poir Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2016, net credit sales totaled $4,200.000, and the estimated bad debt percentage is 1.25%. The allowance for uncollectible accounts had a credit balance of $40,000 at the beginning of 2016 and $42,000, after adjusting entries, at the end of 2016. Question What is the amount of accounts receivable written off during 2016? $40,000 $42,000 O $50,500 $52,500 QUESTION 5 2 points On June 30, 2016, the Esquire Company sold some merchandise to a customer for $30,000 and agreed to accept as payment a noninterest- bearing note with an 10% discount rate requiring the payment of $30,000 on March 31, 2017. The 10% rate is appropriate in this situation. Question Journal entries for Esquire for 2016 would include: O a credit to Sales Revenue of $27.750 a debit to Discount on Notes Receivable of $2.250 a credit to Sales Revenue of $27.000 a dobit to Discount on Notes Receivable of $3,000