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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mcq
Transcribed Image Text:A trial balance before adjustments included the following:
Debit
Credit
€653,000
Sales
Sales returns and allowance
€19,000
54,000
Accounts receivable
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.
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