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Use the following data for the next 4 questions. At the end of January, the unadjusted trial balance of Vernon, Inc., included the following accounts:
Use the following data for the next 4 questions. At the end of January, the unadjusted trial balance of Vernon, Inc., included the following accounts: 27. Refer to the above data. Vernon estimates bad debts expense to be \2 of credit sales. What is the amount of Bad Debts expense recognized in Vernon's income statement for January? 28. Refer to the above data. Vernon estimates bad debts expense to be \2 of credit sales. After the adjusting entry is made, the net realizable value of Vernon's accounts receivable in the January 31 balance sheet is: 29. Refer to the above data. Vernon ages the accounts receivable and determines the estimated uncollectible portion to be \4 of gross accounts receivable. What is the amount of Bad Debts expense recognized in Vernon's income statement for January? 30. Refer to the above data. Vernon ages the accounts receivable and determines the estimated uncollectible portion to be \4 of gross accounts receivable. After the adjusting entry is made, the net realizable value of Vernon's accounts receivable in the January 31 balance sheet is
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