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:

Return On Investment (ROI)

A calculation used to assess the efficiency of an investment, including training, by comparing the benefit received to the cost.

Behaviour And Reaction Metrics

Tools or indicators used to measure individuals' actions or emotional responses in specific situations, often utilized in performance evaluation or market research.

Self-Efficacy

Someone's conviction in their competence to finish assignments and attain aims.

Newly Learned Skills

Abilities or knowledge acquired through recent training or education.