Tabby Corp

question 1

Multiple Choice

Tabby Corp.'s account balances at December 31, 2020, included Accounts Receivable, $ 192,500 debit; Allowance for Doubtful Accounts, $ 1,250 credit. From a review of the receivables, Blue estimates that $ 7,000 of the December 31 receivables will be uncollectible. The required adjusting entry would include a credit to the allowance account for

• A) $ 1,250.
• B) $ 8,250.
• C) $ 7,000.
• D) $ 5,750.

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