On December 31, 2014, Prior to Adjustments, Accounts Receivable Has

Multiple Choice

On December 31, 2014, prior to adjustments, Accounts Receivable has a debit balance of $356,000 and the Allowance for Doubtful Accounts has a credit balance of $1,200. The firm estimates its losses from uncollectible accounts to be 4% of accounts receivable at the end of the year. The balance in the Allowance for Doubtful Accounts after the adjusting entry for the estimated losses from uncollectible accounts is

A) $13,040
B) $14,240
C) $15,440
D) $17,800