At the Beginning of 2016,Peter Dots Has the Following Ledger

question 51

Multiple Choice

At the beginning of 2016,Peter Dots has the following ledger balances:
Accounts receivable

Allowance for doubtful debts

During the year,credit sales amounted to $840,000.Cash collected on credit sales amounted to $750,000 and $18,000 was written off.At the end of the year,the company adjusted for bad debts expense using the ageing method.The amount estimated as uncollectable was $29,000.The ending balance in the Allowance for doubtful debts would be:

• A) $18,000
• B) $29,000
• C) $24,000
• D) $42,000

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