A Year-End Review of Accounts Receivable and Estimated Uncollectible Percentages

Multiple Choice

A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: At the end of the year,the credit balance in Allowance for Uncollectible Accounts was $700.Under the aging-of-receivables method,the balance in the Allowance for Uncollectible Accounts will be ________ after the adjusting entry is made.

A) $500
B) $6,600
C) $7,300
D) $8,000