Multiple Choice
Jensen Corporation uses the percentage-of-sales method to estimate uncollectibles.Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible.The Allowance for Doubtful Accounts prior to adjustment has a debit balance of $18,000.After all adjusting entries are made,the balance in Allowance for Uncollectible Accounts will be:
A) $18,000.
B) $18,540.
C) $42,300.
D) $60,300.
Correct Answer:
Verified
Correct Answer:
Verified
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