Olin Company Had Accounts Receivable of $449,000

question 100

Multiple Choice

Olin Company had accounts receivable of $449,000. Before it recorded the adjusting entry for uncollectible accounts, the balance in the Allowance for Doubtful Accounts was $870. Olin estimates that it will not collect 3 percent of its accounts receivable. What amount of uncollectible accounts expense should be recorded?

• A) $12,600
• B) $10,860
• C) $11,730
• D) $13,470

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