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Allowance for Bad Debts account has a credit balance of $2000 before the adjusting entry for bad debts expense. The company's management estimates that 2 uncollectible for the year 2019. Net credit sales for the balance of Allowance for Bad Debts on the December 31,2019 balance sheet? % of net credit sales will be 27) year amounted to $260,000. What will be the A) $7200 B) $5160 C) $2000 D)$5200 28) The Allowance for Bad Debts has a credit balance of $8000 before the adjusting entry for bad debts 25) expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of- receivables method, the company's management will be $15,000. What will be the amount of Bad Debts Expense reported on estimates that uncollectible accounts the income statement? A) $15,000 B) $7000 C) $23,000 D) $8000 29) On January 1, 2019, Triangle Company has the following account balances 29) Accounts Receivable 19,000 Allowance for Bad Debts 1300 Bad Debts Expense During the year, Triangle has $165,000 of credit sales, collections of credit sales of $143,000, and write-offs of $3000. It records bad debts expense at the end of the year using the aging-of-receiv estimate of uncollectible accounts. Before the year-end entry to adjust the bad debts made, the balance in the Allowance for Bad Debts is ables method. At the end of the year, the aging analysis shows that $2100 is the expense is A) a zero balance C) a debit of $1700 B) a debit of $3000 D) a credit of $4300 30) On July 7, University Bank lent $530,000 to Jazz Music Shop on a 60 day, 7% note, what is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.) 30) A) $536,099 B) $530,000 C) $567,100 D) $536,183 31 31) On October 1, 2019, Fashion Jewelers accepted a 4-month, 12% note for S7500 in settlement of an overdue account receivable. The accounting period ends on December 31. Calculate the accrued interest on the note at December 31, 2019(Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $900 B) $225 )$450 D) $300 32) On December 1, 2018, Atlas Company sold machinery to a customer for $24,000. The customer could not pay at the time of sale but agreed to pay 10 months later and signed a 10-month note at 9% interest How much interest revenue was eamed during 20197 (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $1620 B) $1080 C) $1980 D) $2160