Mellon Corporation
the Data Presented Below Are for Mellon Corporation

question 155

Multiple Choice

Mellon Corporation
The data presented below are for Mellon Corporation for the year ended December 31,2017:
??
$\begin{array}{lr}\text { Sales (100\% on credit) } & \$ 1,500,000 \\\text { Sales returns } & 60,000 \\\text { Accounts receivable (December 31, 2017) } & 250,000 \\\text { Allowance for doubtful accounts (credit balance) (before adjustment at December } & \\31,2017 & 3,000 \\\text { Estimated amount of uncoll ectible accounts based on an aging analysis } & 31,000\end{array}$
-Refer to the data for Mellon Corporation. ?
If Mellon estimates its bad debts at 2% of net credit sales,what amount will be reported as bad debts expense for 2017?

• A)$25,800
• B)$27,000
• C)$28,800
• D)$30,000

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Definitions:

Radical Republicans

A faction of American politicians within the Republican Party of the United States from about 1854 until the end of Reconstruction in 1877, who believed in the immediate emancipation of the slaves and harsh repercussions for the Southern states.

Emancipation Proclamation

Declaration issued by President Abraham Lincoln; the preliminary proclamation on September 22, 1862, freed the slaves in areas under Confederate control as of January 1, 1863, the date of the final proclamation, which also authorized the enrollment of black soldiers into the Union army.

Delayed

Postponed or made later than originally planned or expected.

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A pivotal Civil War battle fought on September 17, 1862, known for being the bloodiest single-day conflict in American history.