11. The two methods of accounting for uncollectible receivables are the allowance method and the...
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11. The two methods of accounting for uncollectible receivables are the allowance method and the a. direct write-off method b. interest method c. wawilinmethod d. cost method 12. Allowance for Doubtful Accounts has a debit balance of $2,500 at the end of the year before adjustment), and bad debt expense is estimated at 4% of net credit sales. If net credit sales are $800,000, the amount of the adjusting entry to record the estimate of the uncollectible accounts is a. $34,500 b. $29,500 C $32,000 d. cannot be determined 13. What entry is required in the company's accounts to record outstanding checks? a. debit Cash; credit Accounts Payable b. debit Accounts Receivable; credit Cash c. debit Cash; credit Accounts Receivable d. none
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