t 23) A company uses the percent of sales method to determine the end of the current year, the coman's unadjusied ra its bad debes expense. Ad balance eeponed he lowing o Accounts receivable Allowance for uncollectible accounts $375,000 Net Sales 800,000 credis All sales are made on credit. Based on past experience, the compamy of net credit sales are uncollectible. What amon should be estimahes that 0.% Expense when the year-end adjusting entry is prepared A) $1,275 B) $1,775 C) S4,500 D) $4,800 E) $5,500 24) A company has $90,000 in outstanding accounts receivable and it uses the alowance method to account for uncollectible accounts. Experience saggeststat 4%of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is an $800 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for A) $2,800 B) $3,568 C) $3,632 D) $3,600 E) $4,400 25) Honoring a note receivable indicates that the maker has: A) Signed B) Paid in full. C) Guaranteed D) Notarized E) Cosigned