* Question 1.40 2 points When preparing the bank reconciliation for the current month, the accountant noted a NSF check on the bank statement for $65 for a check received from a customer paying on his account. What journal entry is necessary to correctly reflect this in the company's books? O Debit Accounts Receivable $65 and Credit Cash $65 O Debit Sales $65 and Credit Cash S65 O Debit Cash $65 and Credit Accounts Receivable s65 O Debit Cash S65 and Credit Accounts Payable $65 * Question 1.41 A method used to estimate bad debt expense which is based on the amount of time a receivable has been outstanding is known as the: 2 points O aging of accounts receivable method O percentage of accounts receivable method. O direct write-off method. O percentage of credit sales method x Question 1.42 The 2 points method for estimating bad debts is generally simple to apply. O percentage of accounts receivable O aging of accounts receivable O percentage of credit sales O direct write-off