7.2-*PLEASE ANSWER ALL 5 QUESTIONS*

5 multiple choice questions.

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1) Earned $246,000 of revenue on account. 2) Collected $243,000 cash from accounts receivable. 3) Wrote off $7,500 of accounts receivable as uncollectible. Dmega estimates uncollectible accounts to be 2% of receivables. Based on this information, the December 31 , Year 3 balance in the accounts receivable account is: Multiple Choice $54,000. $46,500. $58,500. None of these choices are correct. 1) Earned $260,000 of revenue on account. 2) Collected $250,000 cash from accounts receivable. 3) Wrote off $9,500 of accounts receivable as uncollectible. Multiple Choice $1,900. $20,900. $3,020. $1,120. estimates uncollectible accounts expense to be 1% of receivables. Based on this information, the amount of uncollectible accounts expense shown on the Year 3 income statement is: Multiple Choice $3,280. $3,180. $2,280. $1,280. 1) Earned $244,000 of revenue on account. 2) Collected $242,000 cash from accounts receivable. 3) Wrote off $5,800 of accounts receivable as uncollectible. Dmega estimates uncollectible accounts to be 4% of receivables. Based on this information, the amount of net realizable value of receivables shown on the Year 3 balance sheet is: Multiple Choice $65,800. $56,368. $52,032 $54,200. (1) Earned $254,000 of revenue on account. (2) Collected $247,000 cash from accounts receivable. (3) Wrote off $7,800 of accounts receivable as uncollectible. Multiple Choice $2,768. $7,800. $2,488. $3,048