The data below is for Benton Corporation for 2016. Accounts Receivable—January 1, 2016 $334,000 Credit sales during 2016 850,000 Collections from credit customers during 2016 725,000 Customer accounts written off as uncollectible during 2016 12,000 Allowance for Doubtful Accounts [Credit Balance] (After write-off of uncollectible accounts) 1,700 Estimated uncollectible accounts based on an
aging analysis 13,200 Refer to the data for Benton Corporation. If the aging approach is used to estimate bad debts, what should the balance in the Allowance for Doubtful Accounts be after the bad debts adjustment?
a. $26,900
b. $14,900
c. $13,200
d. $11,500
c
You might also like to view...
JoAnn motivates followers through corrective actions, she can be described as a ______.
A. charismatic leader B. visionary leader C. transactional leader D. transformational leader
The letter X on the Muther’s grid indicates that closeness is ______.
A. very important B. unimportant C. undesirable D. necessary
________ are used to measure the level of indebtedness of a small business.
A. Profitability ratios B. Financial ratios C. Leverage ratios D. Activity ratios
Describe the three levels of distribution intensity with examples
What will be an ideal response?