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

question 101

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.
-Before the year-end entry to adjust the Uncollectible accounts expense is made,what is the balance in the Uncollectible accounts expense?

• A) Debit of $1,400
• B) Credit of $1,944
• C) Zero balance
• D) Credit of $544

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Definitions:

Union Representation

The act of labor unions representing the interests of their members in negotiations with employers.

Organization Drive

A campaign or effort undertaken by a union or group to recruit new members or to form a new union within a workplace.

Bargaining Representative

is an entity, often a union, designated to negotiate employment terms on behalf of workers.

Receivership

A legal process in which a receiver is appointed to manage the property, assets, or the operations of a company facing financial distress.