A company has $235,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $7.590 credit balance. If the company estimates 5% of credit sales will be uncollectible, what will be amount of the journal entry to record estimated uncollectible accounts? O A. $4,160 O B. $7.590 OC. $19,340 OD. $11,750
A company has $235,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $7.590 credit balance. If the company estimates 5% of credit sales will be uncollectible, what will be amount of the journal entry to record estimated uncollectible accounts? O A. $4,160 O B. $7.590 OC. $19,340 OD. $11,750
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![A company has $235,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $7,590 credit balance. If the company estimates 5% of credit sales will be uncollectible, what will be the amount of the journal entry to record estimated uncollectible accounts?
O A. $4,160
O B. $7,590
O C. $19,340
O D. $11,750](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc982bc3f-99f0-4b2c-9f40-dc92d0e6c3f8%2F5684f331-564f-4547-b113-5c9ee53937a6%2Fx1rggkz_processed.png&w=3840&q=75)
Transcribed Image Text:A company has $235,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $7,590 credit balance. If the company estimates 5% of credit sales will be uncollectible, what will be the amount of the journal entry to record estimated uncollectible accounts?
O A. $4,160
O B. $7,590
O C. $19,340
O D. $11,750
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