The data presented below for Pharma Corp is for the year ended December 31, 2015: Sales (100% on credit) $1,400,000 Sales returns 30,000 Accounts Receivable (December 31, 2015) 170,000 Allowance for Doubtful Accounts [Cr. Balance] (Before adjustment at December 31, 2015) 1,300 Estimated amount of uncollectible accounts based on aging analysis 14,000 See the data for Pharma Corp If Pharma Corp
estimates its bad debt to be 1% of net credit sales, what will be the balance in the Allowance for Doubtful Accounts account after the adjustment for bad debts?
a. $12,400
b. $13,700
c. $14,000
d. $15,000
d
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A. email address B. telephone number C. street address D. ISP
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