Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?

A) $18,000

B) $54,000

C) $72,000

D) $38,000

Question

Wyatt

Business

30 November, 07:36

Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?

A) $18,000

B) $54,000

C) $72,000

D) $38,000

+1

Answers (1)

Know the Answer?

Miko · Answer 1

The correct answer is c) $72,000

Explanation:

(Using the percentage of net sales method)

Uncollectible accounts expense for the year is estimated to be $54,000

If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment.

$54,000 + $18,000 = $72,000

The balance after adjustment is $72,000

Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?A) $18,000B) $54,000C) $72,000D) $38,000

Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?

A) $18,000

B) $54,000

C) $72,000

D) $38,000