The following accounts were abstracted from Todd Co.'s unadjusted trial balance at December 31, 2008:
Todd estimates that 2% of the gross accounts receivable will become uncollectible. After adjustment at December 31, 2008, the allowance for uncollectible accounts should have a credit balance of
A) $60,000.
B) $52,000.
C) $23,000.
D) $15,000.
Correct Answer:
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