Use This Information to Answer the Following Question

question 158

Multiple Choice

Use this information to answer the following question. The general ledger account for Accounts Receivable shows a debit balance of $50,000.Allowance for Uncollectible Accounts has a credit balance of $1,000.Net sales for the year were $500,000.In the past,2 percent of sales have proved uncollectible,and an aging of accounts receivable accounts results in an estimate of $17,900 of uncollectible accounts.
Using the accounts receivable aging method,the Allowance for Uncollectible Accounts balance (after adjustment) would be

• A) $16,900.
• B) $18,400.
• C) $17,900.
• D) $18,900.

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Definitions:

Chlorophyll

A green pigment found in the chloroplasts of plants, algae, and some bacteria, essential for photosynthesis.

Wavelength

Distance between the crests of two successive waves.

Photolysis

Process by which light energy breaks down a molecule.

Photosynthetic Pathway

The series of chemical reactions by which plants, algae, and some bacteria convert sunlight into chemical energy.