Question 52

Q: A company estimates that 4% of credit sales made during April will not be collected. April's sales comprise $40,000 of cash revenues and $50,000 of revenues on account. What is the bad debt expense for April?

		$1,200
		$2,400
		$2,000
		$1,600

1 points

Question 53

Q: Which statement(s) below is TRUE?

	A.	Allowance for doubtful accounts is a contra-asset
	B.	Net accounts receivable = A/R + Allowance for doubtful accounts
	C.	Net accounts receivable = A/R
	D.	None of above answer is true.

1 points