The following information is for Choco, Inc. at the end of 2015. Net credit sales $5 Accounts receivable, 12/31/15 $8,000 Allowance for uncollectible accounts, 12/31/15 Credit of $200 Estimated uncollectible accounts per aging schedule at 12/31/15 is $335 The allowance for uncollectible accounts balance is before adjustment for uncollectible accounts for current year. If accounts receivable aging method is used to estimate bad debt expense, how much will Choco, Inc. reports as bad debt expense for 2015? You Answered 110 Correct Answer > 135 The following information is for Choco, Inc. at the end of 2015. Net credit sales $13,088 Accounts receivable, 12/31/15 $8,000 Allowance for uncollectible accounts, 12/31/15 Credit of $200 The allowance for uncollectible accounts balance is before adjustment for uncollectible accounts for current year. If uncollectible accounts are estimated at 2% of net credit sales, how much will Choco, Inc. reports as bad debt expense for 2015? You Answered 61.76 Correct Answer > 262 Choco Inc. uses a periodic inventory system. If Choco Inc. uses the Weighted average method, how much is the Ending Inventory for September? (show your answers to the nearest cents) 9/1 Beginning inventory 300units @ $6 9/15 Purchase 500units @ $8 Sales in September (price $10/unit) 626units You Answered 2,000 Correct Answer 1,261.5 Choco Inc. uses a perpetual inventory system. If Choco Inc. uses the Weighted Average method, how much is the cost of goods sold (COGS) for September? (when calculating the weighted average cost, round to the nearest hundredth) 9/1 Beginning inventory 300units @ $3 9/5 Sales (price $10/unit) 150units 9/15 Purchase 500units @ $6.5 9/22 Sales (price $10/unit) 400units You Answered 2,860 Correct Answer 2,727