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Usingthepercentage-of-salesmethod,youestimatethattotaluncollectibleaccountsis$5,875.Theallowanceforuncollectibleaccountspriortoadjustmenthasacreditbalanceof$2,635.Theamountoftheadjustingentryforuncollectibleaccountsexpenseis:

A. $2,635
B. $3,240
C. $5,875
D. $8,510

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Acompanyreportsaccountsreceivableonthebalancesheetatanetrealizablevalueof$586,592.Iftheirgrossreceivableswere$612,854,thenthebalanceintheallowanceforuncollectibleaccountsis:

A. $26,262
B. $38,745
C. $73,812
D. cannotbedeterminedfromthefacts

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Accountsreceivablehasadebitbalanceof$2,300,andtheallowanceforuncollectibleaccountshasacreditbalanceof$200.An$80accountreceivableiswrittenoff.Whatistheamountofnetreceivables(netrealizablevalue)afterthewrite-off?

A. $2,020
B. $2,100
C. $2,180
D. $2,220

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IfAnzon,Inc.,failstomakeanadjustingentryfortheaccruedinterest,

A. netincomewillbeoverstatedandassetswillbeoverstated
B. netincomewillbeoverstatedandliabilitieswillbeunderstated
C. netincomewillbeunderstatedandassetswillbeunderstated
D. netincomewillbeunderstatedandliabilitieswillbeoverstated

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OnAugust1,2010,Botores,Inc.,soldequipmentandacceptedasix-month,12%,$50,000notereceivable.Botoresyear-endisDecember31.WhichofthefollowingaccountswillBotorescreditinthejournalentryatmaturityonFebruary1,2011,assumingcollectioninfull?

A. Cash
B. InterestPayable
C. NotePayable
D. InterestReceivable

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Usingthepercentage-of-salesmethod,youestimatethattotaluncollectibleaccountsis$5,875.Theallowanceforuncollectibleaccountspriortoadjustmenthasacreditbalanceof$2,635.Theamountoftheadjustingentryforuncollectibleaccountsexpenseis:

A. $2,635 B. $3,240 C. $5,875 D. $8,510

Acompanyreportsaccountsreceivableonthebalancesheetatanetrealizablevalueof$586,592.Iftheirgrossreceivableswere$612,854,thenthebalanceintheallowanceforuncollectibleaccountsis:

Accountsreceivablehasadebitbalanceof$2,300,andtheallowanceforuncollectibleaccountshasacreditbalanceof$200.An$80accountreceivableiswrittenoff.Whatistheamountofnetreceivables(netrealizablevalue)afterthewrite-off?

IfAnzon,Inc.,failstomakeanadjustingentryfortheaccruedinterest,

OnAugust1,2010,Botores,Inc.,soldequipmentandacceptedasix-month,12%,$50,000notereceivable.Botoresyear-endisDecember31.WhichofthefollowingaccountswillBotorescreditinthejournalentryatmaturityonFebruary1,2011,assumingcollectioninfull?

A. $2,635
B. $3,240
C. $5,875
D. $8,510