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

question 128

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 ageing- of- accounts method, and calculated an amount of $1 600 as their estimate of bad debts. At the end of the year, what was the balance in the Allowance account?

• A)$2 700
• B)$6 400
• C)$1 600
• D)$1 700

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