Question: Multiple Choice Question 96 In 2020, Warehouse 13 had net credit sales of $740000. On January 1, 2020, Allowance for Doubtful Accounts had a

Multiple Choice Question 96 In 2020, Warehouse 13 had net credit sales

Multiple Choice Question 96 In 2020, Warehouse 13 had net credit sales of $740000. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $15970, During 2020, $20940 of uncollectible accounts receivable were written off. Past expe indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 31 was $160000, what is the required adjustment to the Allowance for Doult Accounts at December 31, 2020? O $16000 O $160000 O $28940 O $20970

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