In 2017 the Golic Co

question 185

Multiple Choice

In 2017 the Golic Co. had net credit sales of $900,000. On January 1, 2017, the Allowance for Doubtful Accounts had a credit balance of $22,500. During 2017, $36,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis) . If the accounts receivable balance at December 31 was $240,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017?

• A)$24,000.
• B)$37,500.
• C)$46,500.
• D)$36,000.

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Definitions:

Mass media

Various forms of communication technologies, such as television, radio, newspapers, and the internet, that reach a large audience simultaneously and have significant influence on societal norms and public opinion.

Audience influence

The impact that viewers, readers, or listeners have on the content, production, and dissemination of media.

Mass media

Various mediums of communication, such as television, newspapers, and the internet, that reach a large audience.

Minority representation

The degree to which minority groups are visibly and effectively represented within societal structures, such as government, media, and workplaces.