Black Corporation Had a 1/1/14 Balance in the Allowance for Doubtful

question 73

Multiple Choice

Black Corporation had a 1/1/14 balance in the Allowance for Doubtful Accounts of $18,000. During 2014, it wrote off $12,960 of accounts and collected $3,780 on accounts previously written off. The balance in Accounts Receivable was $360,000 at 1/1 and $432,000 at 12/31. At 12/31/14, Black estimates that 5% of accounts receivable will prove to be uncollectible. What should Black report as its Allowance for Doubtful Accounts at 12/31/14?

• A) $8,640.
• B) $8,820.
• C) $12,420.
• D) $21,600.

Evaluate the benefits and potential concerns associated with genetically-modified seeds.

Understand how lakes interact with the groundwater system.

Identify settings where surface water transitions into groundwater.

Recognize common settings for springs and their formation.

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Definitions:

External Oblique

A muscle located on the side and front of the abdomen, involved in rotating and laterally flexing the spine.

Transverse Abdominis

A deep muscle layer of the abdominal wall that helps stabilize the core.

Workplace Etiquette

The set of conventional and expected behaviors, manners, and practices within a professional environment.

Multitasking

The ability to handle more than one task simultaneously.