Using the Aging-Of-Receivables Method to Estimate Uncollectibles, Greeley Corporation Estimates

question 77

Multiple Choice

Using the aging-of-receivables method to estimate uncollectibles, Greeley Corporation estimates that $9,500 of its accounts receivable will be uncollectible. Prior to adjustment, the Allowance for Uncollectible Accounts has a debit balance of $3,000. After all necessary adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be:

• A)$12,500.
• B)$ 9,500.
• C)$ 6,500.
• D)$ 3,000.

---

Definitions:

Spirituality

A broad concept that encompasses a sense of connection to something bigger than oneself, which can involve religious beliefs, personal values, and practices.

Workaholism

An uncontrollable need to work incessantly, often at the expense of personal health and social relationships.

Compulsive Buying

A behavior characterized by an overwhelming urge to shop and purchase items, often leading to personal and financial distress.

Comorbidities

The presence of two or more diseases or medical conditions in a patient simultaneously.