Gross Accounts Receivable Is $12,000

question 75

Multiple Choice

Gross Accounts Receivable is $12,000.Allowance for Doubtful Accounts has a credit balance of $600.Net sales for the year are $100,000.In the past,2% of sales had proved uncollectible,and an aging of the receivables indicates $1,900 as uncollectible.What would be the adjusted balance of the Allowance account under the balance sheet approach?

• A)$2,000
• B)$1,400
• C)$2,500
• D)$1,900

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