Please use the information in the first photo to answer the 2 questions below. Could you help me with finding the right answer choice to the following to questions in the photos attatched? Thank you! (:
Extracted text: On December 31, 2019, SPK Corp reported the following information on its balance sheet: $900,000 54,000 (credit) Accounts Receivable Less: Allowance for Doubtful Accounts During 2020, the company had the following transactions: $3,000,000 2,850,000 60,000 12,000 Sales on account Collections of accounts receivables Write-off of accounts deemed uncollectible Recovery of Bad debts previously written off (not included in collections above) If bad debts are estimated to be 1.5% of credit sales, determine the ending balance in the Allowance for Doubtful Accounts after the adjustment. $49,500 $48,000 $51,000 $54,000 $40,500 А. В. С. D. Е. I
Extracted text: If bad debts are instead estimated to be 5% of year end receivables, determine SPK's Net Realizable Value after adjustment? $949,500 $940,500 $948,000 $951,000 $954,000 А. В. С. D. Е.