Using the Percentage-Of-Receivables Basis, the Uncollectible Accounts for the Year

question 87

Multiple Choice

Using the percentage-of-receivables basis, the uncollectible accounts for the year is estimated to be $38,000. If the balance for the Allowance for Doubtful Accounts is a $7,000 credit before adjustment, what is the amount of bad debt expense for the period?

• A) $7,000
• B) $31,000
• C) $38,000
• D) $45,000

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Definitions:

Measurable Percentage

A quantifiable fraction or portion of a whole, expressed as a percentage.

SNP Chip

A device used to detect single nucleotide polymorphisms (SNPs), which are variations at a single position in a DNA sequence among individuals.

Heterozygous

Having two different alleles at the same locus on homologous chromosomes.

Homozygous Dominant

A genetic condition where an individual has two copies of the same dominant allele for a particular trait.