Slater Company has the following information: Net sales are $500,000 for the current period Accounts Receivable at the end of the period is $200,000 Allowance for Doubtful Accounts at the end of the period is $20,000 Bad Debt Expense is $15,000 for the current accounting period On the balance sheet, what amount will the company report as net realizable value of accounts receivable? Answer: Nguyen Company typically sells magazine subscriptions on an annual basis and publishes six times a year. The magazine sold 1,000 subscriptions in January at $12 each. of When the adjusting journal entry is made each time a magazine is shipped, which of the following are true? Check all that are true. Select one or more: Net income increases $2,000 Liabilities decrease $2,000 Assets increase $2,000 Expenses increase $2,000 Assets decrease $2,000 Storyteller Corporation recorded $20,000 of depreciation expense in the current year for a piece of its machinery. Which of the following statements is correct? Select one: O By recording depreciation, the company is matching the cost of using the equipment with the revenues the equipment generated. The equipment has gone down in market value by $20,000 during the year. The company is following the lower of cost or market rule, The company is setting aside $20,000 of funds to be used to replace the equipment at the end of its useful life