5. The Lowery Co. uses the direct write-off method of accounting for uncollectible accounts receivable. Lowery has a customer whose accounts receivable balance has been determined to likely be wrotestable The entry to write off this account would be which oflua following?: a. debit Sales Returns and Allowance, credit Accounts Receivable b. debit Bad Debt Expense; credit Allowance for Doubtful Accounts c. debit Allowance for Doubtful Accounts; credit Accounts Receivable. d. debit Bad Debt Expense; credit Accounts Receivable Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, 2010, Allowance for Doubtful Accounts had a credit balance of $2,400. During 2010, Abbott wrote-off accounts receivable totaling $1,800 and made credit sales of $100,000. There were no Sales Returns or Sales Discounts during trayear. After adjusting entry, the December 31, 2010, balance in the Bad Debt Expense would be a. $3,600 b. $7,200 CS3,000 d. $1,200 The maturity value of a $40,000, 9%, 40-day note receivable dated July 3 is a. S44,000 b. $40,000 c. $40,400 d. $43,600