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Jensen Corporation uses the percentage - of- sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible The Allowance for Doubtful Accounts prior to adjustment h a debit balance of $18,000 After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be OA S60,300 OB. S18.540 OC. $18,000 OD. $42,300

Jensen Corporation uses the percentage - of- sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible The Allowance for Doubtful Accounts prior to adjustment h a debit balance of $18,000 After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be OA S60,300 OB. S18.540 OC. $18,000 OD. $42,300

FINANCIAL ACCOUNTING
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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Jensen Corporation uses the percentage - of - sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible The Allowance for Doubtful Accounts prior to adjustment ha a debit balance of $18,000 After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be: O A. S60,300 OB. $18,540 OC. $18,000 O D. $42,300 Click to select your answer. 955 PM P Type here to search %23 29 5/19/2021 delete home num backspace 3 %24 4 6 8 Q E R T home LEL enter G H J K L LL
Transcribed Image Text:Jensen Corporation uses the percentage - of - sales method to estimate uncollectibles. Net credit sales for the current year amount to $2,010,000 and management estimates 3% will be uncollectible The Allowance for Doubtful Accounts prior to adjustment ha a debit balance of $18,000 After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be: O A. S60,300 OB. $18,540 OC. $18,000 O D. $42,300 Click to select your answer. 955 PM P Type here to search %23 29 5/19/2021 delete home num backspace 3 %24 4 6 8 Q E R T home LEL enter G H J K L LL
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