What sales type would you prefer if you were selling your accounts recievable? Multiple Choice A sale of receivables without recourse A sale of receivables with recourse A sale of receivable with factoring oo A sale of receivable with no factoring The allowance for uncollectible accounts has a beginning balance of $200 (on the credit side). Bad debts are estimated to be 1% of the $50,000 ending Accounts Receivable balance (balance sheet approach). What is the adjusting entry for bad debts at the end of the year? Multiple Choice Debit Bad Debt Expense, Credit Allowance for Uncollectible Accounts $700 Debit Allowance for Uncollectible Accounts, Credit Accounts Receivable for $500 O Debit Allowance for Uncollectible Accounts, Credit Accounts Receivable for $700 O Debit Bad Debt Expense, Credit Allowance for Uncollectible Accounts $300 O Commercial paper are unsecured notes sold in minimum denominations of with maturities ranging from days. Multiple Choice $25,000, 1 to 270 days $10,000, 1 to 365 days $25,000, 1 to 30 days $10,000, 1 to 30 days If Sales are $8,000, Sales Returns are $2,000 and bad debts are estimated to be 1% of net sales (income statement approach), what would be the adjusting journal entry? Multiple Choice Debit Allowance for Uncollectible Accounts, Credit Bad Debt Expense for $60 Debit Bad Debt Expense, Credit Allowance for Uncollectible Accounts for $100 Debit Bad Debt Expense, Credit Allowance for Uncollectible Accounts for $60 O Debit Bad Debt Expense, Credit Allowance for Uncollectible Accounts for $80