A Company Performs the Aging of Accounts Receivable Calculation and Arrives

question 110

Multiple Choice

A company performs the aging of accounts receivable calculation and arrives at an estimate for uncollectible accounts of $800. If Allowance for Uncollectible Accounts has a debit balance of $300 prior to the year-end adjustment, for how much should the adjustment be journalized?

• A) $1,100
• B) $800
• C) $300
• D) $5,500

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Definitions:

Fractions

Mathematical expressions representing the division of one integer by another, distinct from zero.

Lowest Terms

A fraction reduced to the lowest terms where the numerator and denominator are the smallest possible numbers that retain the original value.

Fractions

Numerical quantities that represent a part of a whole, commonly expressed with a numerator and a denominator.

Lowest Terms

The most basic version of a fraction, in which both the top and bottom numbers have been minimized to the lowest possible figures.