At December 31,Gill Co

question 73

Multiple Choice

At December 31,Gill Co.reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) before any adjustments.An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable.The amount of the adjustment for uncollectible accounts would be:

• A)$6,540.
• B)$7,800.
• C)$7,140.

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Definitions:

Property Tax

A tax assessed on real estate by the local government, based on the property's value.

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The movement of people between distant geographical locations, which can be done by foot, bicycle, automobile, train, boat, bus, airplane, or other means.

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The process of detecting and recognizing sound waves by auditory systems.