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On December 31,prior to Adjustments,the Balance of Accounts Receivable Is

Question 43
Multiple Choice

On December 31,prior to adjustments,the balance of Accounts Receivable is $32,000 and Allowance for Doubtful Accounts has a credit balance of $190.The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year.The adjusting entry needed to record the estimated losses from uncollectible accounts is made for A) $190. B) $1,410. C) $1,600. D) $1,790.

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Q 44
On December 31,prior to adjustments,the balance of Accounts Receivable is $26,000 and Allowance for Doubtful Accounts has a debit balance of $300.The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year.The adjusting entry needed to record the estimated losses from uncollectible accounts is made for A) $1,000. B) $1,300. C) $1,600. D) $300.
Q 45
On December 31,prior to adjustments,the balance of Accounts Receivable is $52,000 and Allowance for Doubtful Accounts has a debit balance of $600.The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year.The adjusting entry needed to record the estimated losses from uncollectible accounts is made for A) $600. B) $2,000. C) $2,600. D) $3,200.
Q 46
Allowance for Doubtful Accounts has a credit balance of $1,000 immediately before the write-off of a $300 account receivable.The credit balance of Allowance for Doubtful Accounts immediately after the write-off is A) $700. B) $1,000. C) $1,300. D) $300.
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