S 24,000 1,200,000 27,000 Allowance for doubtful accounts at December 31, 2016 Credit sales during 2017 Accounts receivable deemed worthless and written off during 2017 16. The following information is available for Murphy Company: Extr As a result of a review and aging of accounts receivable in early January 2018, it has been determined that an allowance for doubtful accounts of $16,000 is needed at Velez, I expendit I. O December 31, 2017. What amount should Murphy record as "bad debt expense" for the year ended December 31, 2017? A) $13,000 2. A B) $16,000 C) $19,000 D) $40,000 The 3. The 17. For the year ended December 31, 2017, Dent Co. estimated its allowance for uncollectible data are available: Allowance for uncollectible accounts, 1/1/17 Provision for uncollectible accounts during 2017 Uncollectible accounts written off, 11/30/17 accounts using the year-end percentage of sales method. The following $126,000 90,000 104,000 156,000 truc are ti Estimat ed uncollectible accounts per sales percentage, 12/31/17 After year-end adjustment, the bad debt expense for 2017 should be A) $104,000. B) $90,000. C) $156,000. D) $134,000. 18. Which of the following is included in the normal journal entry to record the collection of accounts receivable previously written off when using the allowance method? A) Debit Allowance for Doubtful Accounts, credit Accounts Receivable. B) Debit Allowance for Doubtful Accounts, credit Bad Debt Expense. C) Debit Bad Debt Expense, credit Allowance for Doubtful Accounts D) Debit Accounts Receivable, credit Allowance for Doubtful Accounts. 19. AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue? A) S24,500. B) $24,750. C) $25,000. D) $25,250