Use This Information to Answer the Following Question

question 110

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 $13,500 of uncollectible accounts.
-Using the percentage of net sales method,Uncollectible Accounts Expense would be debited for

• A)$9,000.
• B)$11,000.
• C)$1,000.
• D)$10,000.

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Definitions:

Statuses

Social positions or roles that individuals occupy within a community, society, or organization, influencing their relationships and interactions with others.

Ethnomethodologists

Researchers who study how people make sense of their everyday world, focusing on the methods and practices through which social order is produced.

Pre-existing

Existing before a specified time or event.

Shared Understandings

The common beliefs, values, or norms that are accepted and recognized within a group or society, facilitating communication and cooperative action.