1. Which of the following accounts would not be reported in the Property, Plant, and...
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Finance
1. Which of the following accounts would not be reported in the Property, Plant, and Equipment section of a balance sheet?
a.Depreciation ExpenseBuildings
b.Buildings
c.Accumulated DepreciationBuildings
d.Land
2
The data presented below are for Falconi, Inc. for 2017.
| Credit sales during the year | $2,100,000 |
| Accounts receivableDecember 31, 2017 | 295,000 |
| Allowance for doubtful accountsDecember 31, 2017 | 28,000 |
| Bad debts expense for the year | 17,000 |
What is the effect on net accounts receivable when Falconi records its estimate for bad debts expense using the allowance method?
a.Net accounts receivable stay the same.
b.Net accounts receivable increase.
c.Net accounts receivable decrease.
d.Net accounts receivable both increase and decrease.
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