13) Uader the allowance method, when a receivable that had been previously writien off is collected: A) Net assets are increased C) Income is recognized. B) Net income is not affected D) An expense is reduced. 14) Bert had accounts receivable of $280,000 and an allowance for doubtful accounts of $10,800 just before writing off as worthless an account receivable from Ermie Company of $1,600. After writing off this receivable what would be the balance in Bert's Allowance for Doubtful Accounts? A) $10,800 credit balance. C) $12,400 credit balance. B) $9,200 debit balance D) 59,200 credit balance. Dynamic, Ine, had credit sales of $675,000 for March Accounts receivable of $6,000 were determined to be worthless and were ten off during March. Accounts receivable total $575,000 at March 31. Management feels that based on past experience, approximately 2% of net credit sales will prove to be uncollectible. 15) Refer to the information above. Assuming Dynamic, Inc, uses the direct write-off method of accounting for A) $11,500. accounts expense for March is: B) $6,000. C) $13,500. D) $17,500. 16) Refer to the information above. Assuming Dynamic, Inc. uses the income statement approach (an allowance method) to account for uncollectible accounts, uncollectible accounts expense for March is: A) S17,500. B) $13,500. C)$19,500. D) $11,500. At the end of January, the unadjusted trial balance of Windsor, Inc. included the following accounts: Debit Credit Sales (800 represent credit sales) Accounts Receivable Allowance for Doubtful Accounts $500,000 $800 17) Refer to the information above. Windsor uses the balance sheet approach in estimating $340,000 uncollectible accounts expense, and aging the accounts receivable indicates the uncollectible portion to be $7,400. What is the amount of uncollectible accounts expense recognized in Windsor's income statement for January? estimated A) S6,600. 15) An unrealized holding loss on available-for-sale securities will reduce net income 19) Marketable securities include investments in bonds and in the capital stocks of publicly traded B) $800 C) $7,400 D) $8,200. A) True B) False corporations A) True B) False