Smart-T Corporation Uses the Aging-Of-Accounts-Receivable Method to Estimate Uncollectible Receivables

question 99

Multiple Choice

Smart-T Corporation uses the aging-of-accounts-receivable method to estimate uncollectible receivables.At year end Smart-T estimates that $4,750 of its accounts receivable will be uncollectible.Prior to adjustment,the Allowance for Uncollectible Accounts has a credit balance of $200.Bad debt expense to be reported on the income statement is:

• A) $4,750
• B) $4,950
• C) $4,550
• D) $200

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Definitions:

Combining Form

In language, a morpheme that combines with other morphemes to form a word, especially in the context of scientific and medical terminology.

Weakness

A reduction in the strength or efficacy of something, such as physical power, structural integrity, or an argument.

-Emia

A suffix used in medical terminology to indicate a condition of the blood, such as hypoglycemia (low blood sugar).

Blood

A body fluid in humans and other animals that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away.