On January 1,2019,Triangle Company Has the Following Account Balances

question 163

Multiple Choice

On January 1,2019,Triangle Company has the following account balances: Allowance for Bad Debts
During the year,Triangle has $165,000 of credit sales,collections of credit sales of $143,000,and write-offs of $3000.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 $2100 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 $1700
• B) a credit of $4300
• C) a zero balance
• D) a debit of $3000

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Definitions:

HRM

Human Resource Management, the practice of recruiting, hiring, deploying, and managing an organization's employees.

Mean

A measure of central tendency that is calculated by adding all numbers in a data set and dividing by the number of observations.

Median

Value of a variable that splits a distribution of scores in half, with the same number of scores above the median as below.