Table 9-11 Mark's Sales
at the Beginning of 2019, Mark's

question 19

Multiple Choice

Table 9-11 Mark's Sales
At the beginning of 2019, Mark's sales had the following ledger balances:
$$\begin{array} { | c | c | c | c | c | } \hline \text { Date } & \text { Accounts Receivable } & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & 24,000 \text { Dr. } \\\hline & & & & \\\hline\end{array}$$ $$\begin{array} { | c | c | c | c | c | } \hline \text { Date } & \begin{array} { c } \text { Allowance for } \\\text { Doubtful Accounts }\end{array} & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & 1,000 \mathrm { Cr } \text {. } \\\hline & & & & \\\hline\end{array}$$ $$\begin{array} { | l | l | l | l | l | } \hline \text { Date } & \text { Bad Debts Expense } & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$ During the year there were $450,000 of credit sales, $460,000 of collections, and $3,700
of write-offs.
-Refer to Table 9-11. At the end of the year, Mark's adjusted for uncollectible account expense using the percent-of-sales method, and applied a rate, based on past history, of 1.2%. At the end of the year, what was the balance in the allowance account?

• A)$2,300
• B)$1,700
• C)$6,400
• D)$2,700

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Definitions:

Upper Quartile

The value below which 75% of the observations in a group of data fall, marking the upper 25% of the data.

Weights

A measure of the heaviness of an object or the importance assigned to elements in a computational operation.

Police Officers

Law enforcement members responsible for maintaining public order, enforcing laws, and preventing, detecting, and investigating criminal activities.

Whiskers

In a box plot, the lines that extend from the quartiles to the furthest data points within a reasonable range, representing the spread of the bulk of the data.