Using the Allowance Method the Uncollectible Accounts for the Year

question 115

Multiple Choice

Using the allowance method the uncollectible accounts for the year is estimated to be $50000.If the balance for the Allowance for Doubtful Accounts is $9000 before adjustment what is the amount of bad debt expense for the period?

• A)$9000
• B)$41000
• C)$50000
• D)$59000

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Definitions:

Board Of Directors

A group of elected individuals who oversee the activities and governance of a corporation or organization.

Corporate Officers

Individuals appointed to manage the day-to-day operations and major decisions of a corporation, such as CEOs, CFOs, and COOs.

Agents

Individuals or entities authorized to act on behalf of others in legal or business transactions, representing their interests.

Mistake Of Judgment

an error made in the decision-making process, often due to a lack of information or misinterpretation of facts.