Cornelius Company had the following information in 2014.

Accounts receivable 12/31/14…………………………………………………………..11,000

Allowance for uncollectible account 12/31/14 (before adjustment)……….900

Credit sales during 2014…………………………………………………………………….47,000

Cash sales during 2014…………………………………………………………………..….11,000

Collections from customers on account during 2014………………………..46,000

If uncollectible accounts are determined by the aging-of-receivables method to be $1,150 the uncollectible account expense for 2014 would be $250. The balance of the Allowance account after the adjusting entry would be

a. $250.

b. $900.

c. $1,150.

d. $2,050.

Answer rating: 100% (QA)

c The balance ... View the full answer