47% ( E Fri 11:39 AM Q !! B Meeting 6.pdf (page 4 of 5) Q Search Task 16 Some MC questions to practice receivables 1. For ABC Company, the aging-of-accounts-receivable table indicates that €7,500 are estimated to be uncollectible. If the Allowance for Doubtful Accounts has a €1,100 credit balance, the adjustment to record bad debts for the period will require a: A) credit to Allowance for Doubtful Accounts for €7,500. B) debit to Bad Debt Expense for €7,500. C) debit to Bad Debt Expense for €6,400. D) debit to Allowance for Doubtful Accounts for €6,400. 2. If a company fails to record an estimated Bad Debt Expense: A) Expenses are understated B) Revenues are understated C) The realizable value of the Accounts Receivables is understated D) Accounts Receivables are understated some shit Green housing2 Microsoft_Offi 6.42.201.aller untitled folder MacBook Air F7 F8 F10 F12 63

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the correct answer for 1 and 2?

47% ( E Fri 11:39 AM Q
!!
B Meeting 6.pdf (page 4 of 5)
Q Search
Task 16
Some MC questions to practice receivables
1. For ABC Company, the aging-of-accounts-receivable table indicates that €7,500 are
estimated to be uncollectible. If the Allowance for Doubtful Accounts has a €1,100 credit
balance, the adjustment to record bad debts for the period will require a:
A) credit to Allowance for Doubtful Accounts for €7,500.
B) debit to Bad Debt Expense for €7,500.
C) debit to Bad Debt Expense for €6,400.
D) debit to Allowance for Doubtful Accounts for €6,400.
2. If a company fails to record an estimated Bad Debt Expense:
A) Expenses are understated
B) Revenues are understated
C) The realizable value of the Accounts Receivables is understated
D) Accounts Receivables are understated
some shit Green housing2 Microsoft_Offi
6.42.201.aller
untitled folder
MacBook Air
F7
F8
F10
F12
63
Transcribed Image Text:47% ( E Fri 11:39 AM Q !! B Meeting 6.pdf (page 4 of 5) Q Search Task 16 Some MC questions to practice receivables 1. For ABC Company, the aging-of-accounts-receivable table indicates that €7,500 are estimated to be uncollectible. If the Allowance for Doubtful Accounts has a €1,100 credit balance, the adjustment to record bad debts for the period will require a: A) credit to Allowance for Doubtful Accounts for €7,500. B) debit to Bad Debt Expense for €7,500. C) debit to Bad Debt Expense for €6,400. D) debit to Allowance for Doubtful Accounts for €6,400. 2. If a company fails to record an estimated Bad Debt Expense: A) Expenses are understated B) Revenues are understated C) The realizable value of the Accounts Receivables is understated D) Accounts Receivables are understated some shit Green housing2 Microsoft_Offi 6.42.201.aller untitled folder MacBook Air F7 F8 F10 F12 63
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