QUESTION 5 The Stacey Corporation had cash sales of $800,000 and credit sales of $1,000,000. Its gross profit averages 60 percent of sales. The company predicts that 95 percent of its credit sales will be collected Calculate the company's uncollectible accounts expense. a $5,000 b. $90,000 c. $40,000 d. $50,000 QUESTION 6 The Acceber Corporation had 5,000 mugs on hand at the beginning of April. Each mug had cost the company S2. The company purchased 9.000 mugs on April 11 at a cost of $3 each. The company purchased 12.000 mugs on April 20 at a cost of $4 each. The company sold 8,000 mugs on April 15 and 10,000 mugs on April 26. The company charged its customers $6 per mug for each mug sold in April. The company uses the FIFO inventory method. Determine the company's cost of merchandise inventory on hand at the end of April. a $32,000 b. $53,000 c. $21,000 d. $64,000