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Use for questions 19-21: On December 31, 2014, the Landon Corporation estimated that 3% or...

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Use for questions 19-21: On December 31, 2014, the Landon Corporation estimated that 3% or its credit sales of S215000 would be uncollectile. Landon used the allowance method of accounting for uncollectible accounts. On February 15, 2015, Landon wrote off the account of one of its customers, in the amount or s2,500. On April 7, 2015, the customer paid the account in full. Which of the following answers correctly shows the effect of the December 31, 2014 adjusting entry for uncollectible accounts on the financial statements of the Landon Corporation? Assets-Liab. Rev.E Net . Cash Flow 6,450 |.(6,450)| + | NA | NA-1 NA |#| NA (6,450 KA B) C) D) O A) Option A B) Option B O c) Option C O D) option D Save Question 20 (1 point) Which of the following answers correctly states the effect of Landon's write-off entry on February 15, 2015? AssetsLinb+ Revenue NA -NA B) D) O A) Option A O B) Option B O C) Option C 0 D) Option D NA NA Save Question 21 (1 point) Which of the following answers correctly states the effect of recording the collection of the reinstated receivable on April 7, 2015? Liabilities NA A) B) D) 2,500 2,500 O A) Option A O B) Option B O C) Option C O D) Option D

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