A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Before the year-end adjustment,the credit balance in Allowance for Uncollectible Accounts was $900.Under the aging-of-receivables method,the balance in the Allowance for Uncollectible Accounts will be ________ after the adjusting entry is made.
A)$380
B)$7,600
C)$8,500
D)$9,400

Question

A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following:  Before the year-end adjustment,the credit balance in Allowance for Uncollectible Accounts was $900.Under the aging-of-receivables method,the balance in the Allowance for Uncollectible Accounts will be ________ after the adjusting entry is made.
A)$380 
B)$7,600 
C)$8,500 
D)$9,400

Quizplus · Accepted Answer

($64,000 × 0.02)+ ($44,000 × 0.04)+ ($20,000 × 0.12)+ ($6,000 × 0.51)= $8,500

A Year-End Review of Accounts Receivable and Estimated Uncollectible Percentages