Based on the Following Information for Calendar 2021 If the Allowance for Doubtful Accounts Is Estimated at 10

question 31

Multiple Choice

Based on the following information for calendar 2021: $$\begin{array} { | l | r | } \hline \text { Accounts receivable, January 1 } & \$ 125,000 \\\hline \text { Credit sales during the year } & 1,400,000 \\\hline \text { Allowance for doubtful accounts, January 1 } & 15,000 \\\hline \text { Cash collected on accounts receivable during the year } & 1,350,000 \\\hline\end{array}$$ If the allowance for doubtful accounts is estimated at 10% of the ending accounts receivable balance, what is the bad debts expense for 2021?

• A)$1,500
• B)$2,500
• C)$9,500
• D)$17,500

Grasp the significance of different social work settings and programs in achieving social welfare objectives.

Acknowledge the necessity of a generalist practice approach in social work.

Appreciate the interplay between social work practice and mental health.

Realize the impact of social policies and standards (such as EPAS) on the practice and education of social work.

---

Definitions:

Summarized

The presentation of data or information in a condensed form, highlighting the main points or statistics.

Proportions

A statistical measure that reflects the relationship of a part to the whole, often expressed as a fraction or percentage.

Median

Median is the middle value in a set of data when arranged in ascending or descending order, effectively dividing the dataset into two halves.

Ordered Array

A list of elements arranged in ascending or descending order based on their values.