Question 18 To write off a specific account receivable using the allowance method, the journal entry would include O a credit to Accounts Receivable - name (specific customer) O a debit to Bad Debt Expense O a credit to Allowance for Doubtful Accounts O a credit to Bad Debt Expense Question 24 For a liability to be recorded it must be O an unavoidable obligation O payable in the future with cash, goods, and/or services O a signed note O both a and b Question 25 Product Warranty payable is credited when Warranty expense is recorded O When a customer returns a product for service under warranty When a warranty period is over O All of the above Question 28 When natural resources are used in a company such as timber, ore, coal gold, or other minerals a portion of their cost is debited to an expense account. This account is called what? Depreciation O Depletion Amortization Units of output Question 29 A fixed asset with a cost of $40,000 and accumulated depreciation of $38,000 is sold for $1,000. Which of the following statements is true? The book value of the asset is greater than the sales price The asset account must be credited for $2,000 There is a gain on the exchange Cash of $1,000 should be credited