Assume that simple co. had credit sales of $282,000 and cost of goods sold of $166,000 for the period. it estimates that 1 percent of credit sales in uncollectible accounts when it uses the percentage of credit sales method and it estimates that the appropriate ending balance in the allowance for doubtful accounts is $3,900 when it uses the aging method. before the end-of-period adjustment is made, the allowance for doubtful accounts has a credit balance of $410.

Fractional reserve banking which of the following statements about fractional reserve banking are correct? check all that apply. fractional reserve banking allows banks to create money through the lending process. fractional reserve banking does not allow banks to hold excess reserves. fractional reserve banking allows banks to create additional wealth by lending some reserves. fractional reserve banking relies on everyone not withdrawing their money at the same time.