Wheeling Inc

question 58

Multiple Choice

Wheeling Inc.uses the aging of accounts receivable method.Its estimate of uncollectible receivables resulting from the aging analysis equals $5,000.At the end of the year,the balance of Accounts Receivable is $100,000 and the unadjusted debit balance of the Allowance for Doubtful Accounts is $500.Credit sales during the year totaled $150,000.What is the estimated Bad Debt Expense for the current year?

• A)$4,500
• B)$5,000
• C)$5,500
• D)$7,000

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