Last year,Congo Corporation had net credit sales of $690,000 and it had uncollectible accounts of $31,050.Based on last year,what would the percent of estimated uncollectible accounts be this year?
A)7)10%
B)3)55%
C)4)50%
D)45.00%

Question

Quizplus · Accepted Answer

To calculate the estimated percent of uncollectible accounts for this year, we need to use the formula:
Estimated percent of uncollectible accounts = (Uncollectible accounts / Net credit sales) x 100

Substituting the values given in the problem:
Estimated percent of uncollectible accounts = (31,050 / 690,000) x 100
Estimated percent of uncollectible accounts = 4.5%

Therefore, the best choice is C) 4)50%, which is closest to the calculated value of 4.5%.

Last Year,Congo Corporation Had Net Credit Sales of $690,000 and It