The Following Accounts Were Abstracted from Almond Co The Company Estimates That 5 Percent of the Gross Accounts

question 26

Multiple Choice

The following accounts were abstracted from Almond Co.'s unadjusted trial balance at December 31, 2019: $\begin{array}{c}\begin{array}{lll}\\\text {Accounts receivable}\\\text {Allowance for uncollectible accounts}\\\text {Net credit sales}\end{array}\begin{array}{lll}\underline{\text {Debit}}\\\$ 3,850,000 \\\\\\\end{array}\begin{array}{lll}\underline{\text { Credit }}\\\\51,000\\\$5,950,000\end{array}\end{array}$
The company estimates that 5 percent of the gross accounts receivable will become uncollectible. After adjustment at December 31, 2019, the allowance for doubtful accounts should have a credit balance of

• A)192,500
• B)243,500
• C)246,500
• D)297,500

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Definitions:

Air-filled Areas

Parts of the body or organs, such as the lungs and sinuses, that contain air and can be visualized differently in medical imaging.

Confederate Military

The armed forces of the Confederate States of America during the American Civil War.

Enlisting Black

The action of recruiting or enrolling African-Americans into the military forces, notably significant during the Civil War and World War II in the United States.

Armed Rebellion

An uprising or revolt that involves the use of weapons, often aimed at overthrowing the ruling government or authority.