Question:4 (30 Marks) Accounts receivable arise from credit sales to customers by both retailers and wholesalers. True False Credit sales are recorded by crediting an account receivable for a specific customer True False As long as a company accurately records credit sales information, it is not necessary to have accounts for specific customers. True False If a customer owes interest on a bill, Accounts Receivable is debited, and Interest Expense is credited. True False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as a debit to Accounts Receivable-RDA Electronics and a credit to Cash True False If the allowance method is used, the journal entry to record the reinstatement of an account previously written off in the current period includes a debit to Accounts Receivable and a credit to Bad Debt Expense. True False TechCom has $40,000 in outstanding accounts receivable. Past experience suggests that 5% of outstanding receivables are uncollectible. The current balance in the allowance for doubtful accounts is $2,500 debit. The required adjusting journal entry includes a debit to bad debt expense for $4,500 True False