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A Firm Reported Sales of $500,000 During the Year

Question 4

Multiple Choice

A firm reported sales of $500,000 during the year.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $100.Based on an aging of accounts receivable,the firm estimated its losses from uncollectible accounts to be $5,200.The adjusting entry to record the estimated bad debt losses will be:

A)
A firm reported sales of $500,000 during the year.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $100.Based on an aging of accounts receivable,the firm estimated its losses from uncollectible accounts to be $5,200.The adjusting entry to record the estimated bad debt losses will be: A) B) C) D)
B)
A firm reported sales of $500,000 during the year.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $100.Based on an aging of accounts receivable,the firm estimated its losses from uncollectible accounts to be $5,200.The adjusting entry to record the estimated bad debt losses will be: A) B) C) D)
C)
A firm reported sales of $500,000 during the year.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $100.Based on an aging of accounts receivable,the firm estimated its losses from uncollectible accounts to be $5,200.The adjusting entry to record the estimated bad debt losses will be: A) B) C) D)
D)
A firm reported sales of $500,000 during the year.Prior to adjustment,Allowance for Doubtful Accounts has a credit balance of $100.Based on an aging of accounts receivable,the firm estimated its losses from uncollectible accounts to be $5,200.The adjusting entry to record the estimated bad debt losses will be: A) B) C) D)

A Firm Reported Sales of $500,000 During the Year

Multiple Choice

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