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When using the allowance method to estimate uncollectible accounts receivable based on an analysis of receivables shows that $640 of accounts receivables are uncollectible. The
When using the allowance method to estimate uncollectible accounts receivable based on an analysis of receivables shows that $640 of accounts receivables are uncollectible. The Allowance for Doubtful Accounts has a debit balance of $110. The adjusting entry at the end of the year will include a credit to Allowance for Doubtful Accounts in the amount of: a $750 b. $530 c $110 d. 8640 Which one of the following below reflects a weak internal control system? a. a single employee is responsible for collecting and recording of cash b. a single employee is responsible for comparing a receiving report to an invoice c. all employees are well supervised d. all employees must take their vacations 10. A check drawn by a company for S340 in payment of a liability was recorded in the journal as S430. This item would be included on the bank reconciliation as ain) a. deduction from the balance per the bank statement b. addition to the balance per the company's records c. addition to the balance per the bank statement d. deduction from the balance per the company's records
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