How do I solve question #9 QUESTION 9On January 1, Five Star Services has the following balances:Accounts Receivable $26,000 (debit)Bad Debts Expense $0Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $87,000, and write-offs of$18,000. Five Star Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable isO A. $21,000O B. $20,690OC.$15,660O D. $39,000QUESTION 10In reconciling a bank statement, the bank balance is $1,800 and the checkbook balance is $1,205. Which of the following is the MOST probable reasonwhy the bank balance is larger than the book balance?O A. There are outstanding checks.O B. A deposit in transit was made at the end of the month.Click Save and Submit to save and submit. Click Save All Answers to save all answers.Close WinSave All AnswersDesktoBUS communicationacc 101 practice fin.GTake Test: ACC 101HomeF12F11

Under direct write off method, accounts receivables are written off by debiting bad debt expenses…

On January 1, Five Star Services has the following balances: Accounts Receivable $26,000 (debit) Bad Debts Expense $0 Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $87,000, and write-offs of $18,000. Five Star Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable is O A. $21,000 OB. $20,690 OC.$15,660 O D. $39,000

On January 1, Five Star Services has the following balances: Accounts Receivable $26,000 (debit) Bad Debts Expense $0 Five Star Services has the following transactions during January: Credit sales of $100,000, collections of credit sales of $87,000, and write-offs of $18,000. Five Star Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable is O A. $21,000 OB. $20,690 OC.$15,660 O D. $39,000

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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