Craigmont Uses the Allowance Method to Account for Uncollectible Accounts

question 76

Multiple Choice

Craigmont uses the allowance method to account for uncollectible accounts.Its year-end unadjusted trial balance shows Accounts Receivable of $104,500,allowance for doubtful accounts of $665 (credit) and sales of $925,000.If uncollectible accounts are estimated to be 4% of accounts receivable,what is the amount of the bad debts expense adjusting entry?

• A)$4,845
• B)$4,180
• C)$3,515
• D)$3,700
• E)$3,850

Understand the role of genetic and neurobiological factors in the development of anxiety disorders.

Explain the nature of obsessions and compulsions, including their relationship and how they manifest in disorders like OCD.

Identify and assess the role of personality disorders in affecting individual behavior and emotional regulation.

Recognize the signs and effects of mood disorders.

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Definitions:

Closed Shop

A form of union security agreement wherein only members of the union can be hired, and employees must remain members of the union to retain their jobs.

Union Member

is an individual who has formally joined a labor union, a collective organization that represents the interests of workers in negotiations with employers.

Safety Standards

Regulations and practices designed to ensure the physical safety of workers and prevent workplace accidents or injuries.

Traditional U.S.

Refers to the customary, long-established practices, values, and institutions within the United States.