Reference no: EM131745835

1. A company doesn't record estimated bad debt expense, than: a)NRV is understated b)revenues are understated c)expenses are understated d) receivables are understated

2. 6500 of a company's accounts receivable are estimated to be uncollectible. If there is a 1200 credit balance for allowance for doubtful account the adjustment will be: a)debit 5300 to bad debt expense b)debit 5300 to allowance for doubtful account c) debit 6500 to bad debts expense d) credit 7700 to allowance for doubtful account