Use the following information about Yak Corporation to answer the next four questions The Accounts Receivable balance for Yak Corporation is $82,000 at October 31, 2020 Before calculating and recording October 2020 bad debt expense, the Allowance for Doubtful Accounts has a debit balance of $3,000 Sales for the month are $950,000 An aging of accounts receivable results in a $17,200 estimate for the Allowance for Doubtful Accounts as of October 31, 2020 In the past several years, 2 of sales have proven uncollectible If Yak uses the percent of sales method, Bad Debt Expense on the October 2020 Income Statement will be $16,000 $17,200 $19,000 $20,200 If Yak uses the percent of sales method, the Allowance for Doubtful Accounts reflected on the October 31, 2020 Balance Sheet will be $16,000 $17,200 $19,000 $20,200 If Yak uses the analysis of receivables method, Bad Debt Expense on the October 2020 Income Statement will be $16,000 $17,200 $19,000 $20,200 If Yak uses the analysis of receivables method, the Allowance for Doubtful Accounts reflected on the October 31, 2020 Balance Sheet will be $16,000 $17,200 $19,000 $20,200

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Use the following information about Yak Corporation to answer the next four questions. The Accounts Receivable balance for Yak Corporation is $82,000 at October 31,

Use the following information about Yak Corporation to answer the next four questions.

The Accounts Receivable balance for Yak Corporation is $82,000 at October 31, 2020. Before calculating and recording October 2020 bad debt expense, the Allowance for Doubtful Accounts has a debit balance of $3,000. Sales for the month are $950,000. An aging of accounts receivable results in a $17,200 estimate for the Allowance for Doubtful Accounts as of October 31, 2020. In the past several years, 2% of sales have proven uncollectible.

If Yak uses the percent of sales method, Bad Debt Expense on the October 2020 Income Statement will be:
1. $16,000.
2. $17,200.
3. $19,000.
4. $20,200.

If Yak uses the percent of sales method, the Allowance for Doubtful Accounts reflected on the October 31, 2020 Balance Sheet will be:
1. $16,000.
2. $17,200.
3. $19,000.
4. $20,200.

If Yak uses the analysis of receivables method, Bad Debt Expense on the October 2020 Income Statement will be:
1. $16,000.
2. $17,200.
3. $19,000.
4. $20,200.

If Yak uses the analysis of receivables method, the Allowance for Doubtful Accounts reflected on the October 31, 2020 Balance Sheet will be:
1. $16,000.
2. $17,200.
3. $19,000.
4. $20,200.