The Data Presented Below Is for Mellon Corporation for the Year

question 72

Multiple Choice

The data presented below is for Mellon Corporation for the year ended December 31, 2016: $\begin{array}{lr}\text { Sales (100\% on credit) } & \$ 1,500,000 \\\text { Sales returns } & 60,000 \\\text { Accounts Receivable (December 31, 2016) } & 250,000 \\\text { Allowance for Doubtful Accounts [Credit B al ance] (Before adjustment at December } & \\31,2016 &3,000 \\\text { Estimated amount of uncollectible accounts based on an aging analysis }&31,000\\\end{array}$
-Refer to the information for Mellon Corporation. If Mellon uses the aging of accounts receivable approach to estimate its bad debts, what will be the net realizable value of its accounts receivable after the adjustment for bad debt expense?

• A) $216,000
• B) $219,000
• C) $222,000
• D) $250,000

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Definitions:

PCC

Pyridinium chlorochromate, a reagent used in organic chemistry for the oxidation of primary alcohols to aldehydes and secondary alcohols to ketones.

Mass Spectrum

A graph or data set representing the distribution of ions by mass in a sample, used to determine the molecular mass and composition of a compound.

Base Peak

In mass spectrometry, this is the highest peak in a mass spectrum, representing the most abundant ion.

3,3-dimethyl-2-butanone

A ketone with a branched chain structure used in organic synthesis and various industrial applications.