On December 31,2016,prior to Adjustments,accounts Receivable Has a Debit Balance

Question 57
Multiple Choice

On December 31,2016,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