Multiple Choice
On December 31, 2019, prior to adjustments, the Allowance for Doubtful Accounts has a debit balance of $750. An aging of the accounts receivable produces an estimate of $6,500 of probable losses from uncollectible accounts.
-The adjusting entry needed to record the estimated losses from uncollectible accounts includes a:
A) a credit to Allowance for Doubtful Accounts for $7,250
B) a debit to Uncollectible Accounts Expense for $5,750
C) a debit to Uncollectible Accounts Expense for $6,500
D) a credit to Allowance for Doubtful Accounts for $6,500
Correct Answer:
Verified
Correct Answer:
Verified
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