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

question 176

Multiple Choice

An aging-of-accounts-receivable indicates that the amount of uncollectible accounts is $3610. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $300. The Accounts Receivable balance is $44,820. The amount of the adjusting entry for uncollectible accounts should be for:

• A)$300
• B)$3310
• C)$3610
• D)$3910

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Definitions:

Outstanding Balance

The amount of money that is still owed or due on a financial account or loan.

Invoice

A document issued by a seller to a buyer that lists goods or services provided along with their costs, signifying an obligation to pay.

Payment

The act of giving money in exchange for goods, services, or to fulfill an obligation.

ROG

Rate of Growth, representing the percentage increase in a particular variable over a specified period, often used in economic and financial contexts.