Eve Inc. estimated its allowance for uncollectible accounts using the year-end accounts receivable aging for the end of 2020. The following data is available: Allowance for uncollectible accounts, 1/1/20 Provision for uncollectible accounts during 2020 (2% on credit sales of 3,000,000) Uncollectible accounts written off, 10/30/20 Estimated uncollectible accounts per aging, 12/31/20 What will be the uncollectible accounts expense for 2020 after year end adjustment? O $96,000 O $78,000 O $54,000 O $114,000 $ 92,000 60,000 56,000 114,000
Eve Inc. estimated its allowance for uncollectible accounts using the year-end accounts receivable aging for the end of 2020. The following data is available: Allowance for uncollectible accounts, 1/1/20 Provision for uncollectible accounts during 2020 (2% on credit sales of 3,000,000) Uncollectible accounts written off, 10/30/20 Estimated uncollectible accounts per aging, 12/31/20 What will be the uncollectible accounts expense for 2020 after year end adjustment? O $96,000 O $78,000 O $54,000 O $114,000 $ 92,000 60,000 56,000 114,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Eve Inc. estimated its allowance for uncollectible accounts using the year-end accounts receivable aging for the end of 2020. The
following data is available:
Allowance for uncollectible accounts, 1/1/20
Provision for uncollectible accounts during 2020 (2% on credit sales of 3,000,000)
Uncollectible accounts written off, 10/30/20
Estimated uncollectible accounts per aging, 12/31/20
What will be the uncollectible accounts expense for 2020 after year end adjustment?
O $96,000
O $78,000
O $54,000
O $114,000
$92,000
60,000
56,000
114,000
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