Dean Art Is a New Business

question 92

Multiple Choice

Dean Art is a new business.During its first year of operations,credit sales were $41,000 and collections of credit sales were $34,000.One account,$725,was written off.Management uses the aging-of-receivables method to account for bad debts expense and estimated $500 as uncollectible at year end.The ending balance of the Allowance for Bad Debts is ________.

• A)$505
• B)$1,230
• C)$1,225
• D)$500

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Definitions:

Uniform Probate Code

A set of laws designed to simplify the probate process and standardize the distribution of an individual's estate across the United States.

Executor

A person appointed by a will to manage the estate of the deceased.

Administrator

An administrator is an individual or entity responsible for managing or overseeing the operations and tasks of an organization or estate, often in a legal or business context.

PepsiCo

A multinational food, snack, and beverage corporation that operates globally, known for products like Pepsi, Lays, and Gatorade.