An Aging-Of-Accounts-Receivable Indicates That the Amount of Uncollectible Accounts Is

question 44

Multiple Choice

An aging-of-accounts-receivable indicates that the amount of uncollectible accounts is $3,910.The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $600.The Accounts Receivable balance is $44,620.The amount of the adjusting entry for uncollectible accounts should be for:

• A)$600.
• B)$3,310.
• C)$3,910.
• D)$4,510.

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Definitions:

MC

Stands for Marginal Cost, which is the cost incurred by producing one additional unit of a good or service.

Output

The quantity of goods or services produced within a given time period by a firm, sector, or economy.

U-Shaped Marginal Cost

A graphical representation of the cost incurred to produce one more unit of a good, which decreases at first due to increasing returns but eventually increases due to decreasing returns.

Profit-Maximizing Output

The quantity of output at which a firm achieves the maximum possible profit, determined where marginal revenue equals marginal cost.