The Following Information Is from the Records of Pangolin Camera

question 78

Multiple Choice

The following information is from the records of Pangolin Camera Shop: $$\begin{array} { | l | r | } \hline \text { Accounts Receivable, December 31,2017 }& \$ 24,000 \text { (debit) } \\\hline\text { Allowance for Bad Debts, December 31,2017 } \\\text { prior to adjustment }&500 \text { (debit) } \\\hline \text { Net credit sales for 2017 }&93,000 \\\hline \text { Accounts written off as uncollectible during } & \\ 2017 &350 \\\hline \end{array}$$ Bad expense is estimated by the aging-of-receivables method.Management estimates that $3,050 of accounts receivable will be uncollectible.Calculate the amount of net accounts receivable after the adjustment for bad debts.

• A)$21,450
• B)$20,950
• C)$20,450
• D)$20,100

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Definitions:

Nonparametric Statistical Tests

Statistical tests that do not assume a specific distribution for the data, useful for ordinal or non-normally distributed interval data.

Population Parameters

Numerical characteristics that describe various aspects of a population, such as its mean or variance.

Expected Frequencies

The anticipated count of occurrences in each category of a statistical distribution under a null hypothesis.

Chi-square Statistic

A measure used in statistics to assess how expectations compare to actual observed data, especially in the context of categorical variables.