Using the Aging- Of- Accounts- Receivable Method to Estimate Uncollectibles

question 108

Multiple Choice

Using the aging- of- accounts- receivable method to estimate uncollectibles, Greeley Corporation estimates that $9,500 of its accounts receivable will be uncollectible. Prior to adjustment, the Allowance for Uncollectible Accounts has a debit balance of $3,000. After all necessary adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be:

• A)$ 9,500.
• B)$ 6,500.
• C)$12,500.
• D)$ 3,000.

---

Definitions:

Calculated

Determined by mathematical process or careful planning and consideration.

Crime Category

A classification system for crimes, based on their nature, severity, and legal implications.

FBI Crime Statistics

FBI Crime Statistics are comprehensive data sets compiled by the Federal Bureau of Investigation that analyze crime trends and rates in the United States.

Unreported Crime

Crimes that are not reported to law enforcement agencies and therefore not included in official crime statistics.