The following item appeared on a balance sheet Accounts The gross balance in Accounts Receivable before the allowance was deducted was: OA. $1,447,600 OB, $1,389,696. O C. $1,505,504. O D. none of the above Using the percentage- of - sales method, the estimated total uncollectible accounts are $7,322. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $3,035. The Accounts Receivable balance is S44.620. The amount of the adjusting entry for Uncollectible-Accounts Expense is OA. OB. OC. O D. $10,357 $7,322. $4,287 $3,035. A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following Days Outstanding 1-30 days 31 - 60 days 61 -90 days Over 90 days Accounts Receivable $62,000 $41,000 $22,000 $7,000 Est. Percent Uncollectible 2% 4% 11% 51% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,200. Under the aging of - receivables method, the Uncollectible -Account Expense at year-end is: OA. $1,240. OB, $10,070. OC. $8,870 D. $7.670. Leno Company sells goods to the Fallon Company for $12,000. It offers credit terms of 4/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: OA. $480. OB. $12,480. C. $12,000. OD. $11,520 Refer to the Mcintosh, Inc., balance sheet below At September 24, 2016, how much in total did customers owe Mcintosh? How much did Mcintosh expect to collect and not to collect on September 24, 2016? What was the net realizable value of Mcintosh, Inc.'s receivables on September 24, 2016? Click the icon to view the balance sheet) Data Table Millions Customers owed Mcintosh, Inc. Mcintosh, Inc. expected not to collect Mcintosh, Inc. expected to collect -net realizable value Mcintosh, Inc. Balance Sheet (Excerpt, Adapted) (In Millions of $) Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowance of S71 and $79, respectively Inventories Vendor non-trade receivables Other current assets Sep. 24, 2016 Sep. 26, 2015 15,302 $ 42,943 17,335 2,046 13,565 8,235 110,852 16,536 20,096 16,202 2,303 13,417 15,121 96,526 Total current assets Enter any number in the edit fields and then continue to the next
