The following information is from the records of Apex Electronics: Description Accounts receivable, December 31, 2015 Allowance for Bad Debts, December 31, 2015, prior to adjustment Net credit sales for 2015 Accounts written off as uncollectible during 2015 Amount $30,000 (debit) $900 (debit) $120,000 $500 Bad debt expense is estimated by the aging-of-accounts-receivables method. Management estimates that $3,200 of accounts receivable will be uncollectible. Calculate the amount of net accounts receivable after the adjustment for bad debts. A. $26,800 B. $27,200 C. $28,100 D. $29,500

The following information is from the records of Apex Electronics: Description Accounts receivable, December 31, 2015 Allowance for Bad Debts, December 31, 2015, prior to adjustment Net credit sales for 2015 Accounts written off as uncollectible during 2015 Amount $30,000 (debit) $900 (debit) $120,000 $500 Bad debt expense is estimated by the aging-of-accounts-receivables method. Management estimates that $3,200 of accounts receivable will be uncollectible. Calculate the amount of net accounts receivable after the adjustment for bad debts. A. $26,800 B. $27,200 C. $28,100 D. $29,500

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 6PB: Ink Records recorded $2,333,898 in credit sales for the year and $1,466,990 in accounts receivable....

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