The Allowance for Doubtful Accounts Has a Credit Balance of $5,000

question 25

Short Answer

The Allowance for Doubtful Accounts has a credit balance of $5,000. Net credit sales for the year were $900,000. Four percent is the estimated uncollectible based on net credit sales. Calculate the amount of the adjustment, for the allowance for doubtful accounts, using the income statement approach.
Amount of the adjustment ________

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Definitions:

Unconditional Positive Regard

A concept in client-centered therapy involving total acceptance and support of a person regardless of their behavior or feelings.

Conditions of Worth

Refers to the criteria set by external sources, such as parents or society, that individuals believe they must meet to be valued or loved.

Unconditional Positive Regard

A term in humanistic psychology referring to an attitude of total acceptance and support towards another person, regardless of what they say or do.

Positive Regard

Acceptance, love, and approval from others.