Salaries Payable would be recorded for a. $18,000 b. $12,950 C. $12,650 d. $11,534 A pension plan which requires the employer to make annual pension contributions, with no promise to employees regarding future pension payments, is termed a. funded b. unfunded c. defined benefit d. defined contribution 26. A pension plan which promises employees a fixed annual pension benefit, based on years of service and compensation, is called a(n) a. defined contribution plan b. defined benefit plan c. unfunded plan d. funded plan 27. An unfunded pension liability is reported on the balance sheet as a. current liability b. owner's equity c. long-term liability current liability or long-term liability, depending upon when the pension liability is to be paid d. Cura 6. Allowance for Doubtful Accounts has a credit balance of $1.200 at the end of the year before adjustment), and an analysis of customers' accounts indicates doubtful accounts of $13.900. Which of the following entries records the proper provision for doubtful accounts? a. debit Uncollectible Accounts Expense, $15,100; credit Allowance for Doubtful Accounts, $15,100 b. debit Allowance for Doubtful Accounts, $15,100; credit Uncollectible Accounts Expense, $15,100 C. debit Allowance for Doubtful Accounts, $12,700; credit Uncollectible Accounts Expense, $12,700 d. debit Uncollectible Accounts Expense, $12,700; credit Allowance for Doubtful Accounts, $12,700 7. What is the type of account and normal balance of Allowance for Doubtful Accounts? a Contra asset, credit b. Asset, debit C. Asset, credit d. Contra asset, debit Tanning Company uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $300,000 and credit sales are $1,000,000. An aging of accounts receivable shows that 5% will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment? a. Bad Debts Expense 13,000 Allowance for Doubtful Accounts 13,000 b. Bad Debts Expense 15,000 Allowance for Doubtful Accounts 15,000 c. Bad Debts Expense 13,000 Accounts Receivable 13,000 d. Bad Debts Expense 15,000 Accounts Receivable 15,000 28. Quick assets include a. cash; cash equivalents, receivables, prepaid expenses, and inventory b. cash; cash equivalents, receivables, and prepaid expenses c. cash; cash equivalents, receivables, and inventory d. cash; cash equivalents, and receivables