Which of the following accounts are characterized as a "contra" account? (Select ALL that apply) Accumulated Depreciation Deferred Revenue Accounts Receivable Sales Allowances Cost of Goods Sold Bad Debt Expense Notes Payable Accounts Payable Sales return Depreciation Expense Equipment Allowance for Uncollectible AR Question 11 4

Which of the following accounts are characterized as a "contra" account? (Select ALL that apply) Accumulated Depreciation Deferred Revenue Accounts Receivable Sales Allowances Cost of Goods Sold Bad Debt Expense Notes Payable Accounts Payable Sales return Depreciation Expense Equipment Allowance for Uncollectible AR
Question 11 4.75 pts When $5,000 of A/R are deemed uncollectible nine months after the original sale, the company should record which of the following should to write off the accounts using the allowance method (Select all answers that apply)? Debit to Accounts Receivable. Credit to Bad Debt Expense. Credit to Accounts Receivable. Credit to Allowance for Uncollectible Accounts. Debit to Accounts Payable Debit to Bad Debt Expense Debit to Allowance for Uncollectible Accounts Credit to Accounts Payable
Question 21 4.75 pt The cost of installing a security fence on a vacant lot should be charged to which account: Accumulated Depreciation Equipment O Land Depreciation Expense Land Improvements Building
Question 24 4.75 pts On June 1, Target sold 100 HP laptops to UCF for $500 each with terms of 3/15,n30. On June 11, UCF paid their invoice and took the discount. What journal entry (debit and credit) should Target record on June 11? (Select all answers that apply) Debit Cash $48,500 Credit Sales Discounts $1,500 Credit Accounts Receivable $50,000 Credit Sales Revenue $50,000 Debit Cash $50,000 Credit Sales Revenue $48,500 Credit Accounts Receivable $48,500 Debit Sales Discounts $1,500 Debit Accounts Receivable $50,000 Debit Accounts Receivable $48,500 75 nts