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On January 1, 2019, Triangle Corp

question 28

Multiple Choice

On January 1, 2019, Triangle Corp. has the following account balances: On January 1, 2019, Triangle Corp. has the following account balances: Allowance for Bad Debts During the year, Triangle has $155,000 of credit sales, collections of credit sales of $142,000, and write-offs of $3,400. It records bad debts expense at the end of the year using the aging-of-receivables method. At the end of the year, the aging analysis shows that $2,000 is 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 is ________. A) a debit of $1,800 B) a credit of $5,000 C) a zero balance D) a debit of $3,400 Allowance for Bad Debts
On January 1, 2019, Triangle Corp. has the following account balances: Allowance for Bad Debts During the year, Triangle has $155,000 of credit sales, collections of credit sales of $142,000, and write-offs of $3,400. It records bad debts expense at the end of the year using the aging-of-receivables method. At the end of the year, the aging analysis shows that $2,000 is 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 is ________. A) a debit of $1,800 B) a credit of $5,000 C) a zero balance D) a debit of $3,400 On January 1, 2019, Triangle Corp. has the following account balances: Allowance for Bad Debts During the year, Triangle has $155,000 of credit sales, collections of credit sales of $142,000, and write-offs of $3,400. It records bad debts expense at the end of the year using the aging-of-receivables method. At the end of the year, the aging analysis shows that $2,000 is 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 is ________. A) a debit of $1,800 B) a credit of $5,000 C) a zero balance D) a debit of $3,400 During the year, Triangle has $155,000 of credit sales, collections of credit sales of $142,000, and write-offs of $3,400. It records bad debts expense at the end of the year using the aging-of-receivables method. At the end of the year, the aging analysis shows that $2,000 is 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 is ________.

Definitions:

Plea Bargains

Legal agreements in criminal cases where the defendant agrees to plead guilty to a lesser charge in exchange for a more lenient sentence or the dropping of additional charges.

Asian Defendants

Individuals of Asian heritage who are facing legal charges or are on trial within a judicial system.

Better Deals

Refers to more advantageous agreements or arrangements that offer improved terms compared to previous ones.

Role Of Poverty

An examination of how economic deprivation influences criminal behavior and individuals' interactions with the criminal justice system.

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