32. Using the allowance method, the uncollectible accounts for the year is estimated to be $40,000. If the balance for the Allowance for Doubtful Accounts is a $9,000 debit before adjustment, what is the amount of bad debt expense for the period? A. $9,000 B. $31,000 C. $40,000 D. E. $49,000 None of the above. 33. Which of the following would not be reported on the balance sheet as a cash equivalen? A. Money market fund. B. Commercial paper. C. Treasury bill. Restricted cash. None of the above D. E. A $100 petty cash fund has cash of $16 and receipts of $86. The journal entry to replenish the account would include a A. debit to Cash for $84. B. credit to Petty Cash for $84. C. credit to Cash Over&Short for $2 34. D. credit to Cash for $86 E. None of the above. 35. Amold Company purchases a new delivery truck for $40,000 The sales taxves are $2.500. The logo of the company is painted on the side of the truck for $1,200, The truck's annual license is $120. The truck undergoes safety testing for $220. What does Arnold record as the cost of the new truck? A. $44,040. B. $43,920. C. $42,500. $41,920. None of the above. D. E. James Company had checks outstanding totaling $21,600 on its June bank reconciliation. In July, James Company issued checks totaling $155,600. The July bank statement shows that $105,200 in checks cleared the bank in July. A check from one of James Company's customers in the amount of $1,200 was also returned marked "NSF." The amount of outstanding checks on James Company's July bank reconciliation should be 36. $28,800. None of the above. A. $50,400. D. E. B. $72,000. C. $70,800. 37 A company purchased factory equipment on June 1, 2014, for S96,000. It is estimated that the equipment will have a $6,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2014, is A. S9,000 D. $3,750 E. None of the above. B. S5,250. C. $4,500