An Aging-Of-Accounts-Receivable Indicates That the Amount of Uncollectible Accounts Is

question 78

Multiple Choice

An aging-of-accounts-receivable indicates that the amount of uncollectible accounts is $3410. The Allowance for Uncollectible Accounts prior to adjustment has a credit balance of $500. The Accounts Receivable balance is $44,820. The amount of the adjusting entry for uncollectible accounts should be for:

• A)$500.
• B)$2910.
• C)$3910.
• D)$3410.

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Definitions:

Password Protection

A security measure where access to a device or digital resource requires entering a secret word or phrase.

Sole Beneficiary

The only person or entity designated to receive the benefits or assets from a will, trust, insurance policy, or other legal instrument.

Conflict-of-Interest Rule

Regulations designed to prevent individuals in positions of responsibility from acting in their own interest over those they serve.

Client Confidentiality

The ethical principle that an organization or individual should not disclose information about their clients to third parties without the consent of the client or a clear legal requirement.