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

question 130

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 Bad debts expense?

• A)$6 400
• B)$2 300
• C)$5 400
• D)$2 700

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Definitions:

Influence Tactics

Strategies or actions designed to change another's behaviors or perceptions.

Recommendations

Advice or suggestions to improve or solve something.

Referrals

A process or method through which an existing user or customer recommends a product or service to potential new users, frequently incentivized by the company.

Ratings

Evaluations or assessments of something, usually in terms of quality, quantity, or some combination of both.