Whats the answers form 21-32

27) The Allowance for Bad Debts account has a credit balance of $2000 before the adjusting entry fory bad debts expense. The company's management estimates that 2% of net credit sales will be uncollectible for the year 2019, Net credit sales for the year amounted to $260,000.What will be the balance of Allowance for Bad Debts on the December 31, 2019 balance sheet? A) $7200 B) 55160 C) s2000 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 estimates that uncollectible accounts will be $15,000. What will be the amount of Bad Debts Expense reported on 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 Accounts Receivable 19,000 Allowance for Bad Debts 1300 Bad Debts Expense During the year, Trangle 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-receivables method. At the end of the year, the aging analysis shows that $2100 is the estimate of uncollectible accounts. Before the year-end entry to adjust the bad debts expense is made, the balance in the Allowance for Bad Debts is B) a debit of $3000 D) a credit of $4300 A) a zero balance C) a debit of $1700 OnJuly 7, University Bank lent S530,000 toJazz 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) On October 1, 2019, Fashion Jewelers acepted a 4-month, 12% note for S7500 in settlement of an 31) 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) 9900 B) $225 C) $450 D) $300 2) On December 1, 2018, Atlas Company sold machinery to a customer for $24,000 The customer ould 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 earned during 2019? (Round any intermediate alculations to two decimal places, and your final answer to the nearest dollar.) A) $1620 B) $1080 C) $1980