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Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021$242,000 Accounts Receivable, December 31, 2021 37,000 Allowance for

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

Credit Sales for 2021$242,000 Accounts Receivable, December 31, 2021 37,000 Allowance for Uncollectible Accounts, December 31, 2021 1,000

3. Calculate the effect on net income (before taxes) and total assets in 2021 for each method. Suzuki estimates 10% of receivables and 2% of credit sales respectively will not be collected.

Percentage of Receivables Method Percentage of Credit Sales Method

Total assets

Net income

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