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Natalicio Limited's year-end balance in accounts receivable is $2,100,000. The allowance for uncollectible accounts had a beginning-of-year credit balance of $32,500. An aging of accounts receivable at the end of the year indicates a required allowance of $50,000. If bad debt expense for the year was $47,000, what was the amount of bad debts written off by Natalicio Limited during the year? 5. A. $129,500 B. S64,500 C. $47,000 D. $35,500 E. $29,500 Texas Desert Homes (TDH) constructed a new subdivision during 2017 and 2018 for Cactus Development Company. Relevant data are summarized below: 6. Contract amount: S3,000,000 Cost: 2017 1,100,000 2018 700,000 2017 800,000 Gross profit: 2018 400,000 Contract billings 2017 2,000.000 2018 1,000,000 TDH recognizes revenue over time for these contracts. In its December 31, 2017, balance sheet, TDH would report: A. The contract asset, cost and profits in excess of billings, of $1,900,000. B. The contract asset, cost and profits in excess of billings, of $800,000. C. The contract asset, cost and profits in excess of billings, of S100,000. D. The contract liability, billings in excess of cost, of $100,000. E. The contract liability, billings in excess of cost, of $2,000,000. Canutillo Produce estimates bad debt expense at 2.5% ofcredit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively at December 31, 2017. During 2018, Canutillo's credit sales and collections were $355,000 and $319,000, respectively, and $1,720 in accounts receivable were written off 7, Canutillo's 2018 bad debt expense is: A. $11,775 B. $8,875 C. $7,975 D. $1,720 E. $1,650

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