Using the percentage-of-receivables method for recording bad debt expenses, estimated uncollectible accounts are $63000. If the balance of the Allowance for Doubtful Accounts is a $12600 debit before adjustment, what is the balance after adjustment? $12600 $75600 $50400 $63000 Skysong, Inc.s unadjusted trial balance includes the following balances (assume normal balances): Accounts receivable $1880000 Allowance for doubtful accounts $38400 Bad debts are estimated to be 10% of outstanding receivables. What amount of bad debt expense will the company record? $192600 $149600 $147470 $187230 During 2022 Novak Corp. had sales on account of $780000, cash sales of $307000, and collections on account of $519000. In addition, they collected $10000 which had been written off as uncollectible in 2021. As a result of these transactions, the change in the accounts receivable indicates a $576000 increase. $261000 increase. $251000 increase. $568000 increase. The interest on a $29000, 15%, 1-year note receivable is $290. $4350. $248. $33350. The financial statements of the Swifty Corporation reports net sales of $576000 and accounts receivable of $73200 and $40800 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 72.2 days 48.3 days 36.1 days 23.9 days In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Oriole 14.90 25.35 Lewis 13.90 25.50 Danforth 10.10 32.65 Swifty 13.90 25.20 Industry Average 13.45 29.95 If Swifty's net credit sales are $785350, what are its average net accounts receivable? $109164 $204146 $38482 $56500 Sunland sells softball equipment. On November 14, they shipped $4200 worth of softball uniforms to Monty Middle School, terms 3/10, n/30. On November 21, they received an order from Douglas High School for $2500 worth of custom printed bats to be produced in December. On November 30, Monty Middle School returned $520 of defective merchandise. Sunland has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30? $3680 $4200 $6720 $6200 Splish is a corporation that sells breakfast cereal. Based on the accounts listed below, what are Splish's total trade receivables? Income tax refund due $560 Advance due to the company from the company president 240 3-month note due from Splish's main customer 1980 Interest due this month on the above note 120 Due and unpaid from this month's sales 9340 Due and unpaid from last month's sales 970 $11280 $13210 $10310 $12290 Net credit sales for the month are $690000. The accounts receivable balance is $150000. The allowance is calculated as 10% of the receivables balance using the percentage-of-receivables basis. If the Allowance for Doubtful Accounts has a credit balance of $7600 before adjustment, what is the balance after adjustment? $15000 $15760 $22600 $7400 An aging of a company's accounts receivable indicates that $10000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $4500 credit balance, the adjustment to record bad debts for the period will require a debit to Bad Debt Expense for $10000. credit to Allowance for Doubtful Accounts for $10000. debit to Bad Debt Expense for $5500. debit to Allowance for Doubtful Accounts for $5500.