Table 7-1 On December 31, 2020, Zeb Company reported the following amounts and account balances (before adjustments): 7. Accounts Receivable Allowance for Uncollectible Accounts, credit Net Sales (all on credit) $840,000 22,050 3,850,000 Refer to Table 7-1. Zeb Co. estimates that its Uncollectible Account Expense is 2.5% of net sales. The Uncollectible Account Expense for 2020 should be: A. B. $21,000. $74,200. 8. C. D. $118,300. $ 96,250. Refer to Table 7-1. Zeb Co. uses an aging schedule to estimate uncollectible accounts. The aging of accounts receivable and the percentage of each category that is estimated to be uncollectible are: Current 1-30 days past due Over 30 days past due 2% 15% 55% $455,000 315,000 70,000 C. D. $ 72,800. $169,050. The balance in Allowance for Uncollectible Accounts after the adjustment should be: A. $ 94,850. B. $116,900. 9. The December 31, 2020, balance sheet of Miller Company reported the following information: Accounts Receivable Allowance for Uncollectible Accounts $197,400 8.600 A. During 2020, a $520 account receivable from Alexis Co. is written off. As a result: Miller's net accounts receivable will equal $188,800. B. C. Miller will record a debit to Uncollectible Account Expense for $520. Miller's net income will decrease by $520. D. Miller will record a credit to Allowance for Uncollectible Accounts of $520. 10. On July 7 a 5%, 90-day, $2,600 note receivable is accepted from a customer for the sale of farm equipment. Which of the following is correct? Due Date Maturity Value ABCD A. 10/4 $2,600.00 B. 10/5 $2,730.00 C. 10/5 $2,632.50 D. 10/6 $2,632.50