Antonov Company provided the following accounts abstracted from the unadjusted trial balance on December 31, 2022: Debit 2,500,000 20,000 Credit Accounts receivable Allowance for doubtful accounts Sales 10,000,000 The company estimated that 4% of the gross accounts receivable will become uncollectible. 48. What amount should be reported as allowance for doubtful accounts on December 31, 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000 49. What amount should be recognized as doubtful accounts expense for the year 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000

Antonov Company provided the following accounts abstracted from the unadjusted trial balance on December 31, 2022: Debit 2,500,000 20,000 Credit Accounts receivable Allowance for doubtful accounts Sales 10,000,000 The company estimated that 4% of the gross accounts receivable will become uncollectible. 48. What amount should be reported as allowance for doubtful accounts on December 31, 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000 49. What amount should be recognized as doubtful accounts expense for the year 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...

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