1.Under the allowance method, writing off a bad debt

Select one:

a.

affects only statement of financial position accounts.

b.

affects only income statement accounts.

c.

affects both statement of financial position and income statement accounts.

d.

is not an acceptable practice.

Under the allowance method, writing off a bad debt

Select one:

Select one:a.

affects only statement of financial position accounts.

b.

affects only income statement accounts.

c.

affects both statement of financial position and income statement accounts.

d.

is not an acceptable practice.

2.The current reporting period accounting records of Malay Ltd reveal the following transactions and events:

Payment of interest	$4,000
Cash sales	38000
Receipt of dividend revenue	14000
Payment of income taxes	15000
Collection of accounts receivable	170000
Payment of accounts payable for inventory	90000
Payment for land	74000
Receipt of interest revenue	1876
Payment of salaries and wages	65000
Payments of dividends	14000
Payment of other operating expenses	20000

The cash flows from operating activities are: Answer