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.11 Sprint 4:56 PM 99% mail-attachment.goog leusercontent.com 5. At the end of 2016, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts of S$4,500 (credit) before any adjustment. The company estimated its future uncollectible accounts to be $12,000 using the percentage-of-receivables method. Murray State's adjustment on December 31, 2016, to record its estimated uncollectible accounts included a: A. Credit to Allowance for Uncollectible Accounts of S12,000. B. Debit to Bad Debt Expense of $7,500. C. Credit to Allowance for Uncollectible Accounts of $7,500. D. Both b and c. 6. At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of S600 (debit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: A. $6.540 B. S7,800. C. S7,140. D. $7,740 7. The Pita Pit borrowed $100,000 on November 1, 2016, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2017. In connection with this note, The Pita Pit should report interest expense in 2017 for the amount of: A. $0 B. S4,000. C. S2,000. D. $6,000 8. Inventory records for Marvin Company revealed the following: Number Uit of Unils Cos $7.20 7.25 7.30 735 Dale Transactie Mar. 10 Purchase Mar, 16 Purchase Mar. 2 Purchase Marvin sold 2,300 units of inventory during the month. Ending inventory assuming FIFO would be: A. S5,140 B. S5,080. C. S5,060. D. $5,050 9. Dring periods when inventory costs are rising, cost of goods

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