Receipts from cash sales of dollar3.200 were recorded incorrectly in the cash receipts journal as dollar2, 300. What entry is required in the company's accounts a. debit Sales: credit b, debit Cash: credit sales c, debit Cash; credit Accounts Receivable d. debit Accounts Receivable: credit Cash 9. The Lowery Co. uses the direct write-off method of accounting for uncollectible accounts receivable. Lowery has a customer whose accounts receivable balance bas been determined to likely be uncollectible. The entry to write off this account would be which of the following a, debit Allowance for Doubtful Accounts credit Accounts Receivable b. debit Sales Returns and Allowance, credit Accounts Receivable c. debit Bad Debt Expense: credit Allowance for Doubtful Accounts d. debit Bad Debt Expenses credit Accounts Receivable 10. A debit balance in the Allowance for Doubtful Accounts indicates that actual bad debt write-offs have exceeded previous provisions for bad debts. b. is the normal balance for that account. cannot occur if the percentage of receivables method of estimating bad debts is used. d. indicates that actual bad write-offs less than what was estimated. 11. A person authorized to write checks drawn on a checking account at a bank must sign and have on file with the a. bank c and c. deposit ticket. 12. A bank reconciliation should be prepared a, by the person who is authorized to sign checks. b, by the company's bank. whenever the bank refuses to lend the company money d to explain any difference between the company's balance per books with the balance per 13. To record estimated uncollectible receivables using the allowance method, the adjusting entry would be a a. debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable. b. debit to Accounts Receivable and a credit to Allowance for Doubtful Accounts. c, debit to Loss on Credit Sales and a credit to Accounts Receivable. d. debit to Bad Debs Expense and a credit to Allowance for Doubtful Accounts. for Accounts bas a credit balance ofss00 at the end of the year before adjustment, and bad debt is estimated of sales. net are dollar300,000, the amount of the adjusting entry to record the estimated uncollectible accounts receivables is a. dollar8, 500 b. dollar8, 500 dollar9.000 d. Cannot be determined