Accelerated Solutions the Following Data Are from the Company's Records

question 94

Multiple Choice

Accelerated Solutions The following data are from the company's records for 2012:
$\begin{array}{ll}\text { Accounts receivable-J anuary 1, 2012 } & \$ 350,000 \\\text { Credit sales during 2012 } & 1,200,000 \\\text { Collections from cre dit customers during 2012 } & 850,000 \\\text { Customer accounts written off as uncollected during 2012 } & 10,000 \\\text { Allowance for doubtul accounts-Jamuaty 1, 2012 } & 35,000 \\\text { Estimated uncollected accounts bassed on an aging analysis } & 50,000\end{array}$
-Refer to Accelerated Solutions.If the aging method is used to estimate bad debts,what amount should be recorded as bad debt expense for 2012?

• A)$50,000
• B)$ 5,000
• C)$15,000
• D)$25,000

---

Definitions:

White-collar Crime

White-collar crime involves financially motivated, nonviolent crime committed by business and government professionals, typically involving fraud, embezzlement, or other forms of deception.

Businesspersons

Individuals engaged in commercial, industrial, or professional activities with the aim of generating profits through the provision of goods or services.

Offenses

Acts that are forbidden by law and subject to criminal or civil penalties.

Fifth Amendment

A provision in the U.S. Constitution that guarantees various rights related to legal proceedings, including the right against self-incrimination.