At the Beginning of 2014,Mark's Sales Had the Following Ledger

question 161

Multiple Choice

At the beginning of 2014,Mark's sales had the following ledger balances: During the year there were $450,000 of credit sales,$460,000 of collections,and $3,700 of write-offs.At the end of the year,Mark's adjusted for uncollectible account expense using the aging method,and calculated an amount of $1,600 as their estimate of uncollectible accounts.
-At the end of the year,what was the balance in the Allowance account?

• A) $1,600
• B) $1,700
• C) $6,400
• D) $2,700

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Definitions:

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, often based on social and cultural meanings.

Sex

The biological categorization of organisms as male or female, often based on reproductive functions, and human sexual activity and interaction.

Self-fulfilling Prophecy

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Reinforced Behavior

Reinforced behavior refers to actions that are strengthened and more likely to be repeated due to positive or negative reinforcements, such as rewards or avoidance of adverse outcomes.