Multiple Choice
A firm reported sales of $300,000 during the year and has a balance of $20,000 in its Accounts Receivable account at year-end.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $300.The firm estimated its losses from uncollectible accounts to be one-half of 1 percent of sales.The entry to record the estimated losses from uncollectible accounts will include a credit to Allowance for Doubtful Accounts for
A) $1,200.
B) $1,500.
C) $1,800.
D) $3,000.
Correct Answer:
Verified
Correct Answer:
Verified
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