Gross Accounts Receivable Is $17,000

question 109

Multiple Choice

Gross Accounts Receivable is $17,000.Allowance for Doubtful Accounts has a credit balance of $100.Net credit sales for the year are $120,000.In the past,2% of credit sales had proved uncollectible,and an aging of the receivables indicates $2,100 as uncollectible.What would be the adjusted balance of the Allowance account under the balance sheet approach?

• A)$2,000
• B)$2,500
• C)$2,100
• D)$2,200

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Definitions:

Narrative Review

A technique for literature reviews in which the author locates and reports on all the studies he or she can find, providing a qualitative summary.

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The ability to comprehend, rationalize, and recall the spatial relationships between objects or areas.

Mathematical Abilities

The capacity to perform and understand various mathematical operations, concepts, and problem-solving techniques.

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