Use the Following Information for Questions

question 73

Multiple Choice

Use the following information for questions
Under the aging of a company's accounts receivable, the uncollectible accounts are estimated to be $12,000.The unadjusted balance for the Allowance for Doubtful Accounts is $2,000 credit.
-What is the balance in the Allowance for Doubtful Accounts account after adjustment?

• A)$14,000
• B)$12,000
• C)$2,000
• D)$10,000

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Definitions:

Systematically Evaluating

The process of methodically assessing or examining something to determine its value, effectiveness, or significance based on set criteria.

Measurement

The process of quantitatively assessing or determining the magnitude, amount, or degree of something.

Calculation

The process of using mathematical techniques to determine a numerical result or assess a financial situation.

Post-Decisional Justification

The cognitive process where individuals convince themselves that the choice they made was the best possible option, often to reduce dissonance after making a difficult decision.