QUESTION 9 Domino Company ages its accounts receivable to estimate bad debts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $45,930 and $3620, respectively. During Year 2, the company wrote off $2720 in uncollectible accounts. In preparation for the company's estimate of bad debts expense for Year 2, Domino prepared the following aging schedule Number of Days Receivables Amount % Likely to be Uncollectible Past Due Current 0-30 31-60 61-90 Over 90 Total $76,000 28,100 7360 3820 3500 $118,780 196 5% 10% 25% 50% What amount will be reported as bad debts expense on the Year 2 income statement? $5606 $1986 $2720 $4706 What is the effect of recognizing $7,500 of uncollectible accounts expense under the direct write-off method? Assets and liabilities increase There is no effect on total assets, liabilities or stockholders' equity Assets and stockholders' equity decrease Assets and stockholders' equity increase QUESTION 11 2 points Save Answer The inventory records for Radford Co. reflected the following: Beginning inventory May 1 First purchase@ May 7 Second purchase May 17 Third purchase@ May 23 Sales @ May 31 What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.) 2200 units@ $6.00 2300 units $6.20 2500 units $6.30 2100 units $6.40 6900 units $7.90 $10,350 $33,120 $44,160 $11,523