A Firm Reported Net Credit Sales of $960,000 for the Year

question 51

Multiple Choice

A firm reported net credit sales of $960,000 for the year and an Accounts Receivable balance of
$120,000 at year-end. Prior to adjustments, Allowance for Doubtful Accounts has a debit balance of $820. The firm estimates its losses from uncollectible accounts to be one-half of 1 percent of net credit sales.
-The balance in Allowance for Doubtful Accounts after adjustment is:

• A)$5,620.
• B)$3,980.
• C)$4,800.
• D)$5,080.

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Definitions:

Counseling Orientation

The philosophical approach or framework that guides a counselor's methods and interaction with clients.

Morals

Principles or beliefs concerning right and wrong behavior.

Normal Guilt

Refers to the feelings of regret and responsibility one might experience after having done something wrong or failed to do something right; it is considered a healthy psychological mechanism.

Indecisiveness

A difficulty in making decisions, often stemming from fear of making the wrong choice, anxiety, or a lack of confidence.