Question 35 8 points Save Answer Kiwi Corp uses the direct write-off method. They have an actual bad debt of $500. What Journal entry will they record at the time the bad debt occurs? Cannot determine without Allowance for Uncollectible Accounts balance A. Allowance for Uncollectible Accounts Accounts Receivable $500 $500 B. Bad Debt Expense $500 Allowance for Uncollectible Accounts $500 C. $500 Bad Debt Expense Accounts Receivable $500 70 96 130 140 15 170 18 100 110 120 28 29 30 25 26 27 31 32 33 34 35 36 190 200 210 220 37 38 39 40 230 240 41 42 43 44 45 46 47 48 49 50 51 Space United has to write off $5,000 in uncollectible accounts receivable. What Journal entry will they record using the allowance method? Bad Debt Expense 5,000 Accounts Receivable 5,000 A. Bad Debt Expense 5,000 Allowance for Uncollectible Accounts 5,000 B. Allowance for Uncollectible Accounts 5,000 Accounts Receivable 5,000 5,000 Allowance for Uncollectible Accounts 5,000 Bad Debt Expense D 11:30 PM Question 37 8 points Save Answer Plum Farms delivers and sells product worth $7,000 to a store on account. What will Plum Farm record? Debit Cash $7,000 credit Deferred Revenue $7,000 A. Debit Sales Revenue $7,000, credit Accounts Receivable $7,000. B. Debit Cash $7,000, credit Sales Revenue $7,000. C. Debit Accounts Receivable $7,000, credit Sales Revenue $7,000 D. nited States) Question 38 8 points Save Ans The normal balance of the account "Sales Allowances" is a because Debit; it is a contra revenue account to Sales Revenue A Credit, it is a contra asset account to Accounts Receivable B. Debit, it is an expense in the income statement OC Credit, it is a contra expense account to Bad Debt Expense D