During the year, Bears inc. recorded credit sales of $520,000. Before adjustments at year-end, Bears has accounts receivable of $340,000, of which $54,000 is past due, and the allowance account had a credit balance of $2,700. Using the aging of receivables method, what would be the adjustment assuming Bears expects it will not collect 6% of the amount not yet past due and 30% of the amount past due? A. Bad Debt Expense Allowance for Uncollectible Accounts B. Bad Debt Expense Allowance for Uncollectible Accounts C. Bad Debt Expense Allowance for Uncollectible Accounts D. Allowance for Uncollectible Accounts Bad Debt Expense Multiple Choice O Option A Option Option C Option D 33,360 36,060 30,660 30,660 33,360 36,060 30,660 30,660

During the year, Bears inc. recorded credit sales of $520,000. Before adjustments at year-end, Bears has accounts receivable of $340,000, of which $54,000 is past due, and the allowance account had a credit balance of $2,700. Using the aging of receivables method, what would be the adjustment assuming Bears expects it will not collect 6% of the amount not yet past due and 30% of the amount past due? A. Bad Debt Expense Allowance for Uncollectible Accounts B. Bad Debt Expense Allowance for Uncollectible Accounts C. Bad Debt Expense Allowance for Uncollectible Accounts D. Allowance for Uncollectible Accounts Bad Debt Expense Multiple Choice O Option A Option Option C Option D 33,360 36,060 30,660 30,660 33,360 36,060 30,660 30,660

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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