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

question 72

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 Uncollectible accounts expense?

• A)$2,300
• B)$5,400
• C)$6,400
• D)$2,700

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Definitions:

Consumer Pickup Sites

Locations designated for customers to collect purchases made online or through other channels, an alternative to home delivery.

Facilities and Handling

Refers to the physical infrastructure and processes used for storing, managing, and transporting goods within a supply chain.

Retail Storage

The space and facilities used to hold goods in a retail environment before they are sold to consumers, impacting the availability and accessibility of products.

Supply Chain Performance

The measurement and assessment of the efficiency, effectiveness, and adaptability of supply chain activities and processes.