A firm reported sales of $460,000 for the year. Prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $560. Based on an aging of accounts receivable, the firm estimated its losses from uncollectible accounts to be $6,460. The adjusting entry to record the estimated bad debt losses will be:
B) .
D) .

Question

A firm reported sales of $460,000 for the year. Prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $560. Based on an aging of accounts receivable, the firm estimated its losses from uncollectible accounts to be $6,460. The adjusting entry to record the estimated bad debt losses will be:
B) . 
D) .

Quizplus · Accepted Answer

The Answer of A firm reported sales of $460,000 for the year. Prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $560. Based on an aging of accounts receivable, the firm estimated its losses from uncollectible accounts to be $6,460. The adjusting entry to record the estimated bad debt losses will be:
B) . 
D) .

A Firm Reported Sales of $460,000 for the Year