Twilight Co. started operations in 2017 and has the following information at the end of June, 2021: $420,000 in its Accounts Receivable and $2,000 debit balance in its Allowance for Uncollectible Accounts. Credit sales for the quarter were $3,200,000 and cash sales of $1,440,000. Twilight Co. estimates its bad debts to be 3.5% of credit sales. What is the amount of Bad Debt Expense for the month? Multiple Choice 550400 SH2 000 On August 1, Daisy's Groomers purchased new grooming equipment for $48,000 plus 8% sales tax. The equipment was advertised for $52.000. Other costs associated with the grooming equipment were: training for use of new equipment, $800; delivery cost of $225; installation cost $1,100; and hiring of a new groomer. $1,000/month. At what amount will the grooming equipment be recorded on a balance sheet? Multiple Choice C) $53.965 O O $53,165 O $54,085 O $ 55,085 O On January 29, 2020, Oil & Gas Corp. issued 12,000 shares of $4 par value common stock for $13 per share. Which of the following statements is true? Multiple Choice The Additional Paid in Capital account will increase by $48,000 The Common Stock account will increase by $156,000 The Cash account will increase by $156,000. Total stockholders' equity will increase by $48,000