Which of the following is not a reason for the Jones Hardware Store to accept credit cards from customers? Multiple Choice Jones can receive its money faster than if it directly extended credit to the customer by an account receivable. The credit card company offers a discount to Jones so that Jones will have more money available for operations. Jones will not have to be concerned with nonsufficient funds checks from customers. Jones will not have to have extra office workers to make phone calls to customers requesting collections on accounts.

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)