Mekka Hypermarket on January 1st, 2020, sold rice product on account to Al Karama shop for...

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Mekka Hypermarket on January 1st, 2020, sold rice product on account to Al Karama shop for RO 3,000. The sales term is 3% on 45 days. On January 31, Al Karama shop informed Mekka that they have financial issue and cannot pay 50% of the amount, so Mekka assume that 50% of the amount is uncollectable. Prepare the journal entry to record this transaction on the books of Mekka Hypermarket on the 31st of January: Select one: a. Interest Receivable Account Receivable O b. Account Receivable Sales Revenue Doubtful Account d. Bad Debts Expenses Allowances for 1500 Bad Debts Expenses 1500 Allowances for Doubtful Account 1500 3000 3000 1500 3000 3000 What will happen when the company assume some of the credit sales is not collectable? Select one: O a. The account receivable decrease O b. The Bad Debt expenses decrease c. The Bad Debt expenses increase O d. The allowance of doubtful account increase Al Ahlya Company wrote a RO2,500, three-months, 8% promissory note dated August 1, to remove credit sales to Jelfar Company. What journal entry would Jelfar Company makes when receiving the note from Al Ahlya. Select one: O a. Account Receivable Note Receivable O b. Note receivable Receivable O c. Account Account Receivable Note Receivable O d. Note Receivable Account Receivable 2500 2500 2500 2500 200 200 200 200 Mekka Hypermarket on January 1st, 2020, sold rice product on account to Al Karama shop for RO 3,000. The sales term is 3% on 45 days. On January 31, Al Karama shop informed Mekka that they have financial issue and cannot pay 50% of the amount, so Mekka assume that 50% of the amount is uncollectable. Prepare the journal entry to record this transaction on the books of Mekka Hypermarket on the 31st of January: Select one: a. Interest Receivable Account Receivable O b. Account Receivable Sales Revenue Doubtful Account d. Bad Debts Expenses Allowances for 1500 Bad Debts Expenses 1500 Allowances for Doubtful Account 1500 3000 3000 1500 3000 3000 What will happen when the company assume some of the credit sales is not collectable? Select one: O a. The account receivable decrease O b. The Bad Debt expenses decrease c. The Bad Debt expenses increase O d. The allowance of doubtful account increase Al Ahlya Company wrote a RO2,500, three-months, 8% promissory note dated August 1, to remove credit sales to Jelfar Company. What journal entry would Jelfar Company makes when receiving the note from Al Ahlya. Select one: O a. Account Receivable Note Receivable O b. Note receivable Receivable O c. Account Account Receivable Note Receivable O d. Note Receivable Account Receivable 2500 2500 2500 2500 200 200 200 200

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