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Blue Corp.'s account balances at December 31, 2022 included Accounts Receivable, $385,000 debit; Allowance for...

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Accounting

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Blue Corp.'s account balances at December 31, 2022 included Accounts Receivable, $385,000 debit; Allowance for Doubtful Accounts, $2,500 credit. From a review of the receivables, Blue estimates that $14,000 of the December 31 receivables will be uncollectible. The required adjusting entry would include a credit to the allowance account for Select one: O a. $16,500. O b. $11,500. O c. $14,000. O d. $ 2,500. Delivery trucks $12,000 lease payment covered the period September 1, 2021 to August 31, 2022. Assuming the entire amount had originally been debited to Lease Expense, the required adjustment at December 31, 2021 is Select one: O a. debit Prepaid Lease and credit Lease Expense $8,000. O b. debit Prepaid Lease and credit Lease Expense $4,000. O c. debit Lease Expense and credit Prepaid Lease $8,000. O d. debit Lease Expense and credit Prepaid Lease $4,000

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