Using the Following Information: During 2015, Sales on Account

question 145

Multiple Choice

Using the following information: During 2015, sales on account were $145,000 and collections on account were $100,000. Also during 2015, the company wrote off $4,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $40,000. Bad debt expense for 2015 is

• A)$4,000.
• B)$5,000.
• C)$9,000
• D)$40,000.

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Definitions:

Inferior

A term used to describe a position below or lower than another part of the body in anatomical terms.

Arteries

Blood vessels that carry oxygenated blood away from the heart to the body's tissues.

Aortic Arch

The curved portion of the aorta, the major artery coming from the heart, from which the main arteries of the head, neck, and upper limbs arise.

Brachiocephalic Trunk

A major artery in the upper body that supplies blood to the right arm, head, and neck.