On December 31 of the Current Year,the Unadjusted Trial Balance

question 157

Multiple Choice

On December 31 of the current year,the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable,debit balance of $95,250; Allowance for Doubtful Accounts,credit balance of $921; credit sales of $420,000.What amount should be debited to Bad Debts Expense,assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?

• A)$5,715.
• B)$6,636.
• C)$4,794.
• D)$5,770.
• E)$5,660.

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Definitions:

Grignard Reagent

Organomagnesium compounds used in organic chemistry to form carbon-carbon bonds, represented by the formula RMgX.

Starting Material

The substances used at the beginning of a chemical synthesis which are transformed through chemical reactions to produce desired products.

Organic Product(s)

Chemical compounds and substances that are synthesized from organic molecules through various chemical reactions.

Reaction

A chemical process where substances interact to form new compounds or change into different substances, driven by the rearrangement of atomic bonds.