Mcq A trial balance before adjustments included the following:DebitCredit€653,000SalesSales returns and allowance€19,00054,000Accounts receivableAllowance for doubtful accounts920If the estimate of uncollectibles is made by taking 10% of gross account receivables, theamount of the adjustment isa. €4,480.b. €5,400.c. €5,308.d. €5,360.

Estimated uncollectible amount = Gross receivable x 10% = 54000 x 10% = 5400

A trial balance before adjustments included the following: Debit Credit €653,000 Sales Sales returns and allowance Accounts receivable €19,000 54,000 Allowance for doubtful accounts 920 If the estimate of uncollectibles is made by taking 10% of gross account receivables, the amount of the adjustment is a. €4,480. b. €5,400. c. €5,308. d. €5,360.

A trial balance before adjustments included the following: Debit Credit €653,000 Sales Sales returns and allowance Accounts receivable €19,000 54,000 Allowance for doubtful accounts 920 If the estimate of uncollectibles is made by taking 10% of gross account receivables, the amount of the adjustment is a. €4,480. b. €5,400. c. €5,308. d. €5,360.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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