Allegheny Company Ended Year 1 with Balances in Accounts Receivable

question 68

Multiple Choice

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $23,000 and $900,respectively.During Year 2,Allegheny wrote off $1,500 of Uncollectible Accounts.Using the percent of receivables method,Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $1,600.What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?

• A)$2,200
• B)$1,500
• C)$700
• D)$1,600

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Definitions:

Public Method

A function defined in a class that can be accessed from any other class.

Superclass

In object-oriented programming, the class from which other classes inherit features such as properties and methods.

Parameters

Parameters are variables listed as a part of the function definition, used to receive information from a function call.

Class Object

An instance of a class in object-oriented programming, representing data and methods to manipulate that data.