Mellon Corporation The data presented below is for Mellon Corporation for the year ended December 31, 2016: Sales (100% on credit) $1,500,000 Sales returns 60,000 Accounts Receivable (December 31, 2016) 250,000 Allowance for Doubtful Accounts [Credit Balance] (Before adjustment at December 31, 2016 3,000 Estimated amount of uncollectible accounts based on an aging analysis 31,000 Refer to
information for Mellon Corporation. If Mellon uses 2% of net credit sales to estimate its bad debts, what will be the balance in the Allowance for Doubtful Accounts account after the adjustment for bad debts?
a. $33,000
b. $31,800
c. $27,000
d. $25,800
b
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