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The account “Allowance for Uncollectible Accounts” will have a debit balance when bad debts have previously been overestimated

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The account “Allowance for Uncollectible Accounts” will have a debit balance when bad debts have previously been overestimated. a. true b. false 8. When an account receivable is written off as uncollectible, which requires a credit to Accounts Receivable, the account to be debited is: a. Uncollectible Accounts Expense b. Accounts Receivable c. Allowance for Uncollectible Accounts d. Cash 9. Johnson Co. uses an aging schedule to estimate bad debts. An aging analysis shows that $40,000 in accounts are estimated to be uncollectible. The Allowance for Uncollectible Accounts already has a $7,500 credit balance. For what amount should the account be adjusted (credited)? a. $32,500 c. $40,000 b. $47,500 d. $7,500 10. Jacobs Co. uses a percentage of credit sales to estimate bad debts. Past experience indicates that about 3% of credit sales will become uncollectible. Credit sales for the current month are $1,000,000. The Allowance for Uncollectible Accounts already has a $5,000 debit balance. For what amount should the account be adjusted (credited)? a. $35,000 c. $30,000 b. $25,000 d. $5,000