At January 1,Everbright Sales Has the Following Balances: During

question 55

Multiple Choice

At January 1,Everbright Sales has the following balances: During the year,Everbright has $150,000 of credit sales,collections of $140,000,and write-offs of $3,000.Everbright records Uncollectible accounts expense at the end of the year using the aging method.At the end of the year,the aging analysis produces a figure of $1,900,being the estimate of uncollectible accounts at end of year.
- After the year-end entry to adjust the Uncollectible accounts expense is made,what is the final balance in the Uncollectible accounts expense?

• A) Debit of $3,700
• B) Credit of $4,200
• C) Debit of $1,900
• D) Debit of $3,000

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Definitions:

Spirits

Alcoholic beverages distilled from grains or plants, known for their higher alcohol content compared to beer or wine.

Synergistic Effects

The interaction of two or more substances or factors that produce a combined effect greater than the sum of their separate effects.

Individual Effects

Refers to the impacts or results of an activity, phenomenon, or intervention on a single person, contrasting with effects on groups or populations.

Tolerance

The process by which an individual's physiological response to a substance decreases with repeated use, necessitating larger amounts to achieve the same effect.