Multiple Choice
Use the following to answer questions
On January 1,2016 Grande Company had a $16,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account.During 2016,Grande provided $104,000 of service on account.The company collected $97,000 cash from accounts receivable.Uncollectible accounts are estimated to be 2% of sales on account.
-The amount of uncollectible accounts expense recognized on the 2016 income statement is:
A) $320.
B) $1,000.
C) $2,080.
D) $1,940.
Correct Answer:
Verified
Correct Answer:
Verified
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