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Required information [The following information applies to the questions displayed below.] Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit

Required information

[The following information applies to the questions displayed below.]

Suzuki Supply reports the following amounts at the end of 2021 (before adjustment).

Credit Sales for 2021$246,000Accounts Receivable, December 31, 202141,000Allowance for Uncollectible Accounts, December 31, 20211,200(Credit)

3.Calculate the effect on net income (before taxes) and total assets in 2021 for each method. Suzuki estimates 11% of receivables and 3% of credit sales respectively will not be collected.

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