Suppose at the End of the Year Before Any Adjusting

question 19

Multiple Choice

Suppose at the end of the year before any adjusting entries,a company has a balance in Allowance for Uncollectible Accounts of $5,000 (debit) .During the year,the company reported the following amounts:
Credit sales to customers = $550,000
Cash collections from customers = $540,000
Actual bad debts = $20,000
What was the balance of Allowance for Uncollectible Accounts at the beginning of the year?

• A)$10,000.
• B)$20,000.
• C)$15,000.

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