On January 1st,2015,Everlight Corp

question 37

Multiple Choice

On January 1st,2015,Everlight Corp.has the following balances: During the year,Everlight has $150,000 of credit sales,collections of credit sales of $140,000,and write-offs of $3,000.It records bad debts expense at the end of the year using the aging-of-receivables method.At the end of the year,aging analysis produces a figure of $1,900,being the estimate of uncollectible accounts.Before the year-end entry to adjust the bad debts expense is made,the balance in the Allowance for Bad Debts expense would show ________.

• A)a debit of $1,800
• B)a credit of $4,200
• C)a zero balance
• D)a debit of $3,000

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