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Question 8 (1 point) During the year, Tabby, Inc. made an entry to write off a $55,000 uncollectible account. Before this entry was made, the
Question 8 (1 point) During the year, Tabby, Inc. made an entry to write off a $55,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $460,000 and the balance in the allowance account was $22,000. The net realizable value of accounts receivable after the write-off entry was 438,000 383,000 405,000 493.000 Question 9 (1 point) Ranking, Inc. sold $120,000 of goods and accepted the customer's $340,000 10% 1-year note in exchange. Assuming 10% approximates the market rate of return how much interest revenue would be recorded for the year ending December 31 if the sale was made on June 302 O 11 prt sc delete & 6 & 7 8 9 O - - - backspace
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