Super Corp

question 82

Multiple Choice

Super Corp. reported credit sales of $2,000,000, cash sales of $200,000 and bad debt write-offs of $100,000 for last year. The ending balance in accounts receivable was $4,500,000. Bad debt expense was $250,000. The allowance for doubtful accounts had a balance of $400,000 at the beginning of the year. What was the balance in the allowance for doubtful accounts at the end of the year?

• A)$100,000
• B)$300,000
• C)$500,000
• D)$550,000

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Definitions:

Hazardous Chemicals

Substances that pose a risk to health, safety, or the environment, requiring careful handling, storage, and disposal to prevent harm.

Sewing Machines

Mechanical or electronic devices used to stitch fabric or other materials together.

Trade Deficit

A situation where a country's imports exceed its exports during a specific period, leading to a net outflow of domestic currency to foreign markets.

Net Exports

The value of a country's total exports minus its total imports; a measure of a nation's foreign trade balance.