Use This Information to Answer the Following Question

question 106

Multiple Choice

Use this information to answer the following question.
The general ledger account for Accounts Receivable shows a debit balance of $100,000.Allowance for Uncollectible Accounts has a credit balance of $2,000.Net sales for the year were $1,044,000.In the past,2 percent of sales have proved uncollectible,and an aging of accounts receivable accounts results in an estimate of $27,000 of uncollectible accounts.
Using the percentage of net sales method,Uncollectible Accounts Expense would be debited for

• A)$18,880.
• B)$22,880.
• C)$2,000.
• D)$20,880.

Recognize the significance of enforceable property rights in preserving resources for future use.

Analyze the relationship between private property treatment and the extinction threat to species.

Comprehend the economic rationale behind resource extraction timing relative to price fluctuations.

Define and understand the management challenges of common resources, such as fisheries.

---

Definitions:

Imposing Criminal Penalties

The act of enforcing legal sanctions or punishments for violations of criminal laws.

Long-Arm Statutes

Laws that allow a court to exercise personal jurisdiction over an out-of-state defendant on the basis of certain activities conducted within the state.

International Shoe

A landmark United States Supreme Court case that established the standard for personal jurisdiction over non-resident defendants in civil cases.

Intrastate Business Qualification

The required authorization for a company to conduct business within a particular state’s borders, distinct from its state of incorporation.