The Amount of Uncollectible Accounts at the End of the Year

question 48

Multiple Choice

The amount of uncollectible accounts at the end of the year is estimated,using the aging of receivables method,to be $25,000.The balance in the Allowance for Doubtful Accounts account is an $8,000 credit before adjustment.What should the balance in the Allowance for Doubtful Accounts account be after adjustment?

• A)$8,000.
• B)$17,000.
• C)$25,000.
• D)$33,000. 25,000 - 8,000 = 17,000

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Definitions:

Dopamine

A neurotransmitter involved in reward, pleasure, and motor function in the brain.

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The feeling of being drawn towards someone or something, often due to physical, emotional, or psychological factors.

Helen Fisher

An American anthropologist and human behavior researcher known for her work on romantic love, marriage, and the biology of attraction.