ual non-refundable membership Sam's Club (part of the Wal-Mart consolidated operations) collects ann fees from customers. When should Sam's Club recognize revenue for these membership fees? A) Immediately when cash is received because the fees are nonrefundable. B) Evenly as they are earned over the membership year C) Pro rata based on when customers actually make purchases. D) At the end of the membership year when Sam's has discharged its obligation to the customer 10. The 2017 Form 10-K of Oracle Corporation, for the May 31,2017 year-end, included the following information relating to their allowance for doubtful accounts: Balance in allowance at the beginning of the year $327 million, accounts written off during the year of $137 million, balance in allowance at the end of the year $319 million. What did Oracle Corporation report as bad debt expense for the year? A) $27 million B) $118 million $129 million D) S151 million 11. The 2016 income statements of Vesuvius, Inc. reports net sales of $6,675 million. The balance sheet reports accounts receivable, net of $750 million at December 31, 2016 and $696 million at December 31, 2015 The days sales outstanding in 2016 was: A) 8 days B) 20 days C) 30 days D) 40 days 12. Central Supply purchased a new printer for $67,500. The printer is expected to operate for nine (9) years, after which it will be sold for salvage value estimated to be $6,750. How much is the first year's depreciation expense if the company uses the double-declining-balance method? A) $6,750 B) $7,500 C) $13,500 D) $15,000 b,500 6750 /9ycars