Table 9-10 Armadillo Camera Shop
the Following Information Is from the 2019

question 129

Multiple Choice

Table 9-10 Armadillo Camera Shop
The following information is from the 2019 records of Armadillo Camera Shop:
$$\begin{array} { | l | r | } \hline \text { Accounts receivable, December 31,2019 } & \$ 20,000 \text { (debit) } \\\hline \text { Allowance for doubtful accounts, December } & \\31,2019 , \text { prior to adjustment } & 600 ( \text { debit) } \\\hline \text { Net credit sales for 2019 } & 95,000 \\\hline \text { Accounts written off as uncollectible } & \\ \text { during 2019 } &7,000 \\\hline \text { Cash sales during 2019 } & \text { } 27,000 \\\hline\end{array}$$
-Refer to Table 9-10. Bad debts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. Which of the following will be the amount of net accounts receivable after adjustment?

• A)$16,550
• B)$17,750
• C)$17,150
• D)$13,000

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Definitions:

Reversed

A legal term referring to a court's decision to overturn or annul a previous judgment or ruling.

Remanded

The act of sending a case back to the original court from which it came for further action or a new trial.

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