The following information is from the 2015 records of Armand Camera Shop: Bad debts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. The balance of the Allowance for Bad Debts after adjustment will be:
A)$7,000.
B)$3,450.
C)$2,850.
D)$3,750.

Question

The following information is from the 2015 records of Armand Camera Shop:  Bad debts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. The balance of the Allowance for Bad Debts after adjustment will be:
A)$7,000. 
B)$3,450. 
C)$2,850. 
D)$3,750.

Quizplus · Accepted Answer

The Answer of The following information is from the 2015 records of Armand Camera Shop:  Bad debts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. The balance of the Allowance for Bad Debts after adjustment will be:
A)$7,000. 
B)$3,450. 
C)$2,850. 
D)$3,750.

The Following Information Is from the 2015 Records of Armand