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

question 21

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 percent-of-sales method, and applied a rate, based on past history, of 1.2%. At the end of the year, what was the balance in the Accounts receivable?

• A)$10,300
• B)$3,700
• C)$14,000
• D)$21,300

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