QUESTION 27 In 2019, Trevor Construction is in its first year of business. All of Trevor's sales are made on account. The company has decided to account for uncollectible accounts using the percentage of revenue method under the Allowance method. Their estimate is 2% of total sales for the year. At the end of 2019, Trevor Construction has the following information relating to operations: Accounts Receivable at 12/31/2019 S 51,000 Total Sales Revenue for 2019 $ 212,000 Operating Expense $ 37,000 Loss on sale of Land $ 58,000 27. What is the net realizable value of accounts receivable reported on the balance sheet after making the journal entry for estimated uncollectibles in #26? a. $47,780 b. $161,000 C. $51,000 Customise and control Google Chrome d. $46,760 28. What is the journal entry if Trevor Construction determines that Commerford Co. will not pay its $2,000 bill and needs to write-off Commerford's account under the Allowance method? a. Dr. Uncollectible Expense $2,000 Cr. Accounts Receivable $2,000 b. Dr. Allowance for Uncollectible Accounts $2,000 Cr. Accounts Receivable $2,000 c. Dr. Allowance for Uncollectible Accounts $2,000 Cr. Uncollectible Expense $2,000 Od. Dr. Uncollectible Expense $2,000 Cr. Allowance for Uncollectible Accounts $2,000 29. What is the journal entry if Trevor Construction determines that Commerford Co. will not pay its $2,000 bill and needs to write-off Commerford's account under the Direct Write Off method? a. Dr. Uncollectible Expense $2,000 Cr. Accounts Receivable $2,000 b. Dr. Allowance for Uncollectible Accounts $2,000 Cr. Uncollectible Expense $2,000 c. Dr. Uncollectible Expense $2,000 Cr. Allowance for Uncollectible Accounts $2,000 d. Dr. Allowance for Uncollectible Accounts $2,000 Cr. Accounts Receivable $2,000