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25. The following information is from the 2019 records of Albert Book Shop: Accounts receivable,...

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25. The following information is from the 2019 records of Albert Book Shop: Accounts receivable, December 31, 2019 Allowance for Bad Debts, December 31, 2019 prior to adjustment Net credit sales for 2019 Accounts written off as uncollectible during 2019 Cash sales during 2019 $42,000 (debit) 1,600 (debit) 178,000 17,000 28,000 Bad debts expense is estimated by the aging - of- receivables method. Management estimates that $5,400 o accounts receivable will be uncollectible. Calculate the amount of bad debts expense for 2019. O A. $7,000 O B. $5,650 O C. $3,800 D. $5,600 26. The use of the allowance method to record bad debts expense violates the matching principle. True False 27. Jameson Company had the following balances and transactions during 2019: 320 units at $74 Sold 80 units Beginning Merchandise Inventory as of January 1, 2019 March 10 Purchased 150 units at $77 Sold 150 units June 10 October 30 What would be reported for Cost of Goods Sold on the income statement for the year ending De if the perpetual inventory system and the last-in, first-out inventory costing method are used? A. $11,550 B. $17,020 C. $5,920 D. $17,470

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