SCENARIO 1 (three questions): Assume the company uses the direct write off method to account for bad debt. question 1: Match the impact of each transaction listed below on the accounting equation. Clear All Recorded sales on account of $11,600. decrease assets and decrease equity Received $10,000 from customers for payment on account. increase assets and increase equity Wrote off accounts in the amount of $43 as uncollectible. increase assets and decrease assets question 2: Which of the following would occur under the direct write off method if $49 is received from a customer whose account was previously written off? Increase cash by $49. Decrcase bad debt expense by S49, Decrease accounts receivable try $49. Increase accounts receivable by S49. All of the above would occur. question 3: Given an average accounts receivable balance of $1,120, how long, on average, did it take the company to collect a sale made on account? (round your calculations to two decimal places) 35.24 days 31.78 days 14.76 days 17.6 days 10.35 days SCENARIO 2 (three questions): Assume the company uses the allowance method to account for bad debt. question 1: The impact on the accounting equation of recording sales on account and cash received from customers for payment on account would be the same under the allowance method and the direct write off method. True False question 2: The company wrote off $43 of accounts as uncollectible during the year. Which of the following captures how the transaction would be recorded in the accounting records? OOOOO Increase allowance for doubtful accounts by $43; decrease bad debt expense by $43. Increase bad debt expense by $43; decrease allowance for doubtful accounts by $43. Decrease sales revenue by $43; decrease accounts receivable by $43. Decrease accounts receivable by $43; decrease allowance for doubtful accounts by $43. Increase bad debt expense by $43; decrease accounts receivable by $43. question 3: Assume sales on account of $11,600 and a balance in the allowance for doubtful accounts at the beginning of the period of $125. If $43 in accounts receivable were written off during the year and the company estimates bad debt is 1% of credit sales, what would be the adjustment to the allowance for doubtful account at the end of the period? An increase of $