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t ort Using the percentage of receivables method for recording todos uncollectible accounts are $26.000. W the balance of the is $8.000 debit before adjustment, what is the amount of bed s actor period? a. $34,000 b. $18,000 c. $33,000 d. $17.000 Using the allowance method. the uncollectible accounts for the year is estimated to be $28,000. If the balance for the Allowance for Doubtful Accounts is a $7.000 con before adjustment, what is the amount of bad debts expense for the period? a. $7,000 b. $21,000 c. $28,000 d. $35,000 3. In 2008, the Fitzu Co. had net credit sales of $750,000. On January 1, 2008, Allow for Doubtful Accounts had a credit balance of $15,000. During 2008, $30 uncollectible accounts receivable were written off. Past experience indicates allowance should be 10% of the balance in receivables (percentage of receival If the accounts receivable balance at December 31 was $200,000, what is the adjustment to the Allowance for Doubtful Accounts at December 31, 2008? a. $15,000 b. $34,000 $35,000 d. $30,000 A truck was purchased for $120,000 and it was estimated to have a $ at the end of its useful life. Monthly depreciation expense of $4,80 the straight-line method. The annual depreciation rate is a. 20%. b. 2% C. 8%. d. 5% ID 000 hour vos purchased for $75,000 on Januar ne yalue at the end of o 000 .000 5.000 58, the Fitzu Co. had net credit sales o Doubtful Accounts had a credit balance Sllectible accounts receivable were written ofl. wance should be 10% of the balance in receivables (per ne accounts receivable balance at December 31 was $200.0 justment to the Allowance for Doubtful Accounts at December 31, 2 $15,000 $34.000 $35,000 .. c. d. $30,000 A truck was purchased for $120,000 and it was estimated to have a $24,000 salvage value at the end of its useful life. Monthly depreciation expense of $4,800 was recorded using the straight-line method. The annual depreciation rate is a. 20% b. 2% c. 8%. d. 5%. 5 A factory machine was purchased for $75,000 on January 1, 2008. It was estimated that it would have a $15,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years. The company ran the machine for 5,000 actual hours in 2008. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2008 would be a. $7,500. b. $12,000. $15,000. d. $6,000. wabcd

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