Allegheny Company Ended Year 1 with Balances in Accounts Receivable

question 68

Multiple Choice

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $23,000 and $900,respectively.During Year 2,Allegheny wrote off $1,500 of Uncollectible Accounts.Using the percent of receivables method,Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $1,600.What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?

• A)$2,200
• B)$1,500
• C)$700
• D)$1,600

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Definitions:

Begging Frequencies

The rate or pattern at which offspring request or demand resources from their parents, often observed in bird species.

Adaptation

The process by which organisms adjust to new environments or to changes in their current environment, enhancing survival and reproduction.

Pseudopenis

An enlarged and erectile clitoris present in some female mammals, resembling a penis, notably observed in spotted hyenas.

Extra-androgen Hypothesis

A theory suggesting that higher levels of androgens (male sex hormones) in certain individuals can lead to more aggressive or dominant behaviors, potentially influencing mating success.