At the Beginning of 2015, Peter Dots Has the Following

question 55

Multiple Choice

At the beginning of 2015, Peter Dots has the following ledger balances: During the year, credit sales amounted to $800,000. Cash collected on credit sales amounted to $760,000 and $18,000 has been written off. At the end of the year, company adjusted for bad debts expense using the aging method. The amount estimated as uncollectible was $25,000. The ending balance in the Allowance for Bad Debts would be:

• A)$38.000.
• B)$18,000.
• C)$25,000.
• D)$30,000.

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