Using the percentage of net sales method,uncollectible accounts expense for the year is estimated to be $54,000.If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment,what is the balance after adjustment?
a.$72,000
b.$38,000
c.$54,000
d.$18,000
Correct Answer:
Verified
Q41: Each of the following is a characteristic
Q60: Which of the following statements is false
Q64: Interest on a note receivable may be
Q72: You have just received notice that Agnes
Q129: The interest on a three-month,12 percent,$16,600 note
Q131: The general ledger account for Accounts Receivable
Q132: The maturity value of a 60-day,9 percent,$2,000
Q133: The balance of Accounts Receivable,net of the
Q135: Using the accounts receivable aging method,estimated uncollectible
Q138: A company has net sales of $100,000
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents