Which of the following would a company expect to collect within 30-60 days?

Group of answer choices

Notes Receivable

Accounts Receivable

Notes Payable

None of the above

Which account(s) might a company use to record losses from receivables that are ultimately not collected?

Group of answer choices

Cash

Bad Debt Expense

Uncollectible Accounts Expense

All of the above.

B and C above

Jones Company uses the percentage of sales method to estimate uncollectible accounts. It estimates that 2% of credit sales will be uncollectible. Credit sales for the period are $10,000. What is the estimated bad debt expense?

Group of answer choices

$0

$20

$200

$2,000

Using the percentage of receivables method, the total estimated bad debt is calculated at $1,300. The Allowance for Doubtful Accounts account has an existing credit balance of $500. What is the amount of the adjusting entry?

Group of answer choices

$1,300

$500

$800

$1,800

Partial Balance Sheet for H.G. Company

Cash43,000

Accounts Receivable24,000

Allowance for Doubtful Accounts5,000

Supplies6,000

Inventories41,000

What is the net realizable value for accounts receivable?

Group of answer choices

$24,000

$29,000

$19,000

$5,000

What is the maturity value of a $7,000, 5%, 60-day note?

Group of answer choices

$58.33

$7,000

$7,058.33

$7,350

Which of the following is the correct formula for a $1,000, 10%, 4-month note?

Group of answer choices

$1,000 x 10% x 4

$1,000 x 10% x 4/12

$1,000 x 10% x 4/360

$1,000 x 10% x 120

I only have 50 minutes to respond