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B. Uncollectible Accounts A trial balance of Golden Rams Company before adjustments included the following:...

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B. Uncollectible Accounts A trial balance of Golden Rams Company before adjustments included the following: Debit Credit Sales . . . $500,000 Sales Returns and Allowance $ 10,000 Accounts Receivable. 80,000 Allowance for Doubtful Accounts 1000 1,000 1. If the estimate of uncollectibles is made by taking 10% of gross account, the amount of the adjustment under the Allowance Method is A. $6,000. C. $8,000. B. $7,000. D. $9,000. Recetaller D2. 2. Under 1 above, If the Allowance of Doubtful Accounts had a debit balance of $1,000 at December 31, the amount of the adjustment under the Allowance Method is A. $6,000. C. $8,000. B. $7,000. $9,000. D. Dollar-Value LIFO Albany State Company manufactures various products. On December 31 State Company adopted the dollar-value LIFO method. Presented below inventory data. us products. On December 31, 2018, Albany method. Presented below is the following Year 2018 2019 Inventory at (End-of-Year Prices) $70,000 Price Index - 90,300 2020 100 70000 - 16000 w 105 86000 120 8200 1000 12088000 2021 95,120 105,600

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