Which question is inncorrect? what is the correct answer for the questions below.

Question 1 5 pts The accounting principle that requires the matching of revenues to expenses is called O Matching Principle Revenue Matching Standards of Accounting None of the above Question 2 5 pts Indicate which method of accounting for uncollectible receivables supports the matching principle. O Allowance method GAAP method Direct Write-off method Receivables method Question 3 5 pts Under a perpetual inventory system, the cost of merchandise purchased is recorded in the account O Merchandise Inventory Purchases Sales revenue Accounts payable Question 4 5 pts A purchase invoice for $15,500, terms 2/10, n/30, FOB shipping point, is paid within the discount period. Transportation costs of $700 have been prepaid by the seller. The perpetual inventory system is used. The title of the account in which the transpiration costs are recorded by the purchaser is .5 Merchandise inventory Freight-in Shipping expense Purchases Question 5 5 pts Allowance for Doubtful Accounts has a credit balance of $10,000 at the end of the year, before adjustments. Sales for the year amounted to $1,500,000, and sales returns and allowances amounted to $50,000. If the uncollectible account expense is estimated to be 2% of NET sales, the amount of the appropriate adjusting entry will be o $29,000 $30,000 $19,000 $20,000 Question 6 5 pts A note receivable due within 13 months would appear on the balance sheet in which section? Long-term assets Current assets Long-term liabilities Current liabilities Question 7 2 pts What total amount will be paid on the maturity date of a $100,000, 180-day, 4% (annual rate) note receivable? $102,000 $2,000 $4,000 $104,000 Question 8 O pts Allowance for Doubtful Accounts has a credit balance of $12,500 at the end of the year, before adjustments. Sales for the year amounted to $1,200,000, and sales returns and allowances amounted to $25,000. If the uncollectible accounts expense is based on the analysis of receivables that indicates doubtful accounts of $45,300, the amount of the adjustment will be? Not for J Term $32,800 $45,300 $25,000 $57,800 Question 9 5 pts With credit terms of 2/10,n/30, the seller is offering the purchaser a 2% cash discount if the amount is paid within 10 days of the invoice date. Otherwise, the full amount is due in 30 days. True False Question 10 5 pts If goods are shipped FOB shipping point, the seller does not record revenue from the sale until the goods arrive at their destination because the transaction is not complete until that point. True False Question 11 5 pts The allowance for doubtful accounts appears on the income statement under expenses. O True False Question 12 5 pts If the balance in the accounts receivable is $400,000 and the balance in the allowance for doubtful accounts is $20,000, the net realizable value of the receivables is $380,000. True False Question 13 5 pts A return of $1,200 has been recorded on a sales invoice for $20,000, terms 1/10, n/30; it is paid within the discount period. The account the discount is recorded in by the seller is Sales discounts Purchase discounts Merchandise inventory Selling expense Question 14 3 pts A return of $1,200 has been recorded on a sales invoice for $20,000, terms 1/10, n/30; it is paid within the discount period. The amount of the discount is 188 Question 15 3 pts A purchase invoice for $15,500, terms 2/10, n/30, FOB shipping point, is paid within the discount period. Transportation costs of $700 have been prepaid by the seller. The perpetual inventory system is used. The amount of the discount is 310