Question 9 Given the following Ending Inventory errors for the Portland Company: Not yet answered Points out of 3.00 Year 2016 2017 Ending Inventory Error Overstated $30 Understated $40 P Flag question Indicate the error in 2017 Net Income and 12/31/17 Retained Earnings: Select one: a. Net Income Understated $40, Retained Earnings Understated $40 b. Net Income Overstated $70, Retained Earnings Overstated $10 c. Net Income Understated $10, Retained Earnings Overstated $10 d. Net Income Understated $70, Retained Earnings Understated $40 e. Net Income Understated $10, Retained Earnings Understated $10 Question 10 The following accounts were abstracted from Todd Company's unadjusted trial balance at December 31: Not yet answered Debit $800,000 Points out of 3.00 Accounts Receivable Allowance for Doubtful Accounts Net Credit Sales Credit 10.000 $3,000,000 Flag question Todd Company estimates that 3% of net credit sales will become uncollectible. After adjustment at December 31, the Bad Debt Expense account should have a balance of: Select one: a. $24,000 b. $34,000 c. $90,000 d. $80,000 e. $100,000