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unadiusted balance of the allowance for doubtful accounts of Johnstone Supplies,n report, bad debt expense will be: ing resut e in the amount of $28,947 on July 31, 2011. Based on the accounts receivable A. $34,012 S5.065 C. S62.950 D. $50,434 upplies, Inc., writes off s3,081 of uncollectible accounts during August, 2011, for doubtful accounts on August 31, 2011 will 4. If Johnstone S the unadjusted account balance in the allowance be: A. $30,931 B. $5,065. C. $34,012. D. $1,984. 5. When A. it debits an asset account and credits a liability account. B. it debits a revenue account and credits an asset account. C. it debits a revenue account and credits an expense account. a company makes an adjustment in anticipation of future uncollectible debt: D. it debits an expense account and credits a contra-asset account. 6. On the balance sheet, the allowance for doubtful accounts: A. is included in current liabilities. B. increases the reported net value of accounts receivable. C. appears under the heading "Other Assets." D. is deducted from accounts receivable. 7. IBM signs an agreement to lend one of its customers S200,000 to be paid back in on 5.5% interest. IBM would record this loan as: A. loans payable. B. accounts receivable C. notes receivable. D. unearned revenue. unadiusted balance of the allowance for doubtful accounts of Johnstone Supplies,n report, bad debt expense will be: ing resut e in the amount of $28,947 on July 31, 2011. Based on the accounts receivable A. $34,012 S5.065 C. S62.950 D. $50,434 upplies, Inc., writes off s3,081 of uncollectible accounts during August, 2011, for doubtful accounts on August 31, 2011 will 4. If Johnstone S the unadjusted account balance in the allowance be: A. $30,931 B. $5,065. C. $34,012. D. $1,984. 5. When A. it debits an asset account and credits a liability account. B. it debits a revenue account and credits an asset account. C. it debits a revenue account and credits an expense account. a company makes an adjustment in anticipation of future uncollectible debt: D. it debits an expense account and credits a contra-asset account. 6. On the balance sheet, the allowance for doubtful accounts: A. is included in current liabilities. B. increases the reported net value of accounts receivable. C. appears under the heading "Other Assets." D. is deducted from accounts receivable. 7. IBM signs an agreement to lend one of its customers S200,000 to be paid back in on 5.5% interest. IBM would record this loan as: A. loans payable. B. accounts receivable C. notes receivable. D. unearned revenue

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