The Allowance for Uncollectible Accounts Currently Has a Credit Balance

question 84

Multiple Choice

The Allowance for uncollectible accounts currently has a credit balance of $200.The company's management estimates that 2.5% of net credit sales will be uncollectible.Net credit sales are $115,000.What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet?

• A) $3,275
• B) $3,075
• C) $2,675
• D) $2,875

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Definitions:

Vision

The sense that allows for the perception of visual stimuli, processed by the eyes and interpreted by the brain.

Body Senses

Sensory systems related to the body that include touch, proprioception (sense of body position), and the vestibular system (balance).

Occipital Lobe

The region of the cerebral cortex located at the back of the brain, primarily involved in processing visual information.

Vision

The ability to see, which is facilitated by the eye's mechanisms to detect light and interpret it as images.