Jensen Corporation Uses the Percentage-Of-Sales Method to Estimate Uncollectibles

question 61

Multiple Choice

Jensen Corporation uses the percentage-of-sales method to estimate uncollectibles.Net credit sales for the current year amount to $2,000,000 and management estimates 2% will be uncollectible.The Allowance for Doubtful Accounts prior to adjustment has a debit balance of $16,000.After all necessary adjusting entries are made,the balance in Allowance for Uncollectible Accounts will be:

• A)$16,000.
• B)$16,320.
• C)$24,000.
• D)$40,000.

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Definitions:

Nocioception

The sensory nervous system's response to certain harmful or potentially harmful stimuli.

Functions of Smell

Functions of Smell encompass the roles smell plays in daily life, including detecting hazards, influencing taste, triggering memories or emotions, and facilitating social interactions.

Food Source

Any substance consumed to provide nutritional support to an organism.

Danger Avoidance

Danger avoidance refers to behaviors or actions taken to evade potential threats or harmful outcomes.