ust Choose The Corect Answer, No Need For Further Explanation. 1. Which of the following is NOT an internal control procedure for cash? a. Only designated personnel are authorized to handle cash b. The same individual receives the cash and pays the bills c. Surprise audits of cash on hand should be made occasionally d. Access to cash is limited Beginning 2. Classic Floors has the following inventory data:- - Assuming that a perpetual inventory system is used, what is the value of July 1 July 5 July 14 July 21 July 30 30 units at $6.00 inventory Purchases Sales Purchases Sale 120 units at $6.60 80 units 60 units at $7.20 56 units ending inventory on a LIFO basis for July a. $931.20 b. $1,404.00 c. $708.00 d. $472.80 3. An aging of a company's accounts receivable indicates that $9,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $3,200 Debit balance, the adjustment to record bad debts for the period will require a a. Debit to Bad Debt Expense for $9,000 b. Debit to Bad Debt Expense for $12,200 c. Debit to Bad Debt Expense for $5,800 d. Credit to Allowance for Doubtful Accounts for $9,000 4. An aging of a company's accounts receivable indicates that $9,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $3,200 CREDIT balance, the adjustment to record bad debts for the period will requirea a. Debit to Bad Debt Expense for $9,000 b. Debit to Bad Debt Expense for $12,200 c. Debit to Bad Debt Expense for $5,800 d. Credit to Allowance for Doubtful Accounts for $9,000