The following accounts were taken from Robot Company's unadjusted trial balance on December 31, 2014: Debit Credit Accounts Receivable $1,000,000 Allowance for Doubtful Accounts 8,000 Net Credit Sales $3,000,000 Robot estimates that 3% of gross accounts receivable will become uncollectible. After adjustment on December 31, 2014, the allowance for doubtful accounts should have a credit balance of: a. $90,000 b. $82,000 c. $38,000 d. $30,000

The following accounts were taken from Robot Company's unadjusted trial balance on December 31, 2014: Debit Credit Accounts Receivable $1,000,000 Allowance for Doubtful Accounts 8,000 Net Credit Sales $3,000,000 Robot estimates that 3% of gross accounts receivable will become uncollectible. After adjustment on December 31, 2014, the allowance for doubtful accounts should have a credit balance of: a. $90,000 b. $82,000 c. $38,000 d. $30,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter9: Receivables

Section: Chapter Questions

Problem 10E: Using data in Exercise 9-9, assume that the allowance for doubtful accounts for Waddell Industries...

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