Question 36 of 40 View Policies Current Attempt in Progress An indication that the customer has taken control of the good or service is that O the selling company has transferred legal title to the asset. O the customer has no signicant risks or rewards of ownership. 0 the selling company has physical possession of the asset. O the selling company has no right to payment for the good or service. -/2.5 1 : Question 37 of 40 - I 2.5 i: = View Policies Current Attempt in Progress On January 15, 2024, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specied a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000, 30 days after delivery. The revenue for this contract should be 0 recorded on March 1,2024. 0 recorded on April 30. 2024. 0 recorded on January 15,2024. 0 recorded on March 31. 2024. Question 38 of 40 - l 2.5 E View Policies Current Attempt in Progress When the allowance method of recognizing uncollectible accounts is used. the entries at the time of collection of a small account previously written off would 0 Increase the allowance for uncol lectible accounts. 0 Decrease the allowance for uncollectible accounts. 0 Have no effect on the allowance for uncollectible accounts. 0 Increase net income. Question 39 of 40 - l 2.5 E View Policies Current Attempt in Progress Foster Co. adjusted its allowance for uncollectible accounts at year-end. The general ledger balances for the accounts receivable and the related allowance account were $1.000.000 and $40.000. respectively. Foster uses the percentage-of-receivables method to estimate its allowance for uncollectible accounts. Accounts receivable were estimated to be 5% uncollectible. What amount should Foster record as an adjustment to its allowance for uncol lectible accounts at year-end? O $10.000 decrease. O $10.000increase. O $50000 decrease. O $50.000increase. Question 40 of 40 - /2.5 . .. View Policies Current Attempt in Progress Tallent Corporation had the following account balances at December 31, Year 1: Cash on hand and in banks $975,000 Cash legally restricted for additions to plant (expected to be disbursed in Year 3) 600,000 Bank certificates of deposit (due February 1, Year 2, purchased September 1, Year 1) 250,000 In the current assets section of Tallent's December 31, Year 1, balance sheet, what total amount should be reported under the caption "cash and cash equivalents"? O $1,825,000 O $975,000 O $1,225,000 O $1,575,000