Temper Company Has Credit Sales of $3 Assuming the Company Uses the Percent of Accounts Receivable Method,what

question 42

Multiple Choice

Temper Company has credit sales of $3.10 million for year 2013.Accounts Receivable total $947,360 and the company estimates that 2% of accounts receivable will remain uncollectible.Historically,.9% of sales have been uncollectible.On December 31,2013,the company's Allowance for Doubtful Accounts has an unadjusted debit balance of $2,575.Temper prepared a schedule of its December 31,2013,accounts receivable by age.Based on past experience,it estimates the percent of receivables in each age category that will become uncollectible.This information is summarized here:
$\begin{array}{ccc}\text { December } 31,2013 & \text { Age of Accounts } & \text { Expected Percent } \\\text { Accounts Receivable } & \text { Receivable } & \text { Uncollectible }\\ \$620,000 & \text { Not yet due } & 1.05 \% \\248,000 & 1 \text { to } 30 \text { days past due } & 1.80 \\ 49,600 & 31 \text { to } 60 \text { dlays past due } & 6.30 \\ 24,800 & 61 \text { to } 90 \text { days past due } & 31.75 \\4,960 & \text { Over } 90 \text { days past due } & 66.00\end{array}$
Assuming the company uses the percent of accounts receivable method,what is the amount that Temper will enter as the Bad Debt Expense in the December 31 adjusting journal entry?

• A) $18,947.20
• B) $16,372.20
• C) $23,024.40
• D) $27,900.00
• E) $21,522.20

Understand various pregnancy tests and procedures along with their descriptions and purposes.

Differentiate between tests used for confirming pregnancy and those used for monitoring pregnancy progress.

Identify the significance of prenatal screening for genetic disorders.

Recognize the role of specific tests in predicting and diagnosing birth defects.

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Definitions:

Age Group

A range of ages into which individuals are grouped for statistical analysis based on similarities in their age.

Conditional Distribution

The distribution of a subset of data, given the occurrence of a certain condition, revealing patterns contingent on specified criteria.

Brand 1 Cola

A generic term for a hypothetical cola product offered by a specific brand, often used in marketing studies or consumer preference research.

Pet Preference

An individual's choice or affection towards certain types of pets over others, based on personal likes, dislikes, or experiences.