At the Beginning of 2014, Mark's Sales Had the Following

question 148

Multiple Choice

At the beginning of 2014, Mark's sales had the following ledger balances: During the year there were $450 000 of credit sales, $460 000 of collections, and $3 700 of write- offs. At the end of the year, Mark's adjusted for Bad debts expense using the percentage- 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)$1 700
• B)$6 400
• C)$2 700
• D)$2 300

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Evidence-Based Model

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