Question: Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $ 43000 . If the balance of the Allowance for Doubtful Accounts

Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $43000. If the balance of the Allowance for Doubtful Accounts is a $4600 debit before adjustment, what is the balance after adjustment?

$4600

$47600

$38400

$43000

the following choices are incorrect answers for this question : $47600 and $38400

Step by Step Solution

★★★★★

3.40 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Correct option is 43000 4th option is correct Cottect opton is 4300... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $10,000. If the balance of the Allowance for Doubtful Accounts is $2,000 credit before...

Windsor, Inc. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $ 160000 and credit sales are $ 1610000 . Management estimates that 4 % of...

Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method During 2011, Crandell Productions, Inc., recorded credit sales of $800,000. Based on prior experience,...

The vice president for Tres Corporation provides you with the following list of accounts receivable written off in the current year. (These accounts were recognized as bad debt expense at the time...

The vice president for Tres Corporation provides you with the following list of accounts re- ceivable written off in the current year. (These accounts were recognized as bad debt expense at the time...

Comparing the Percentage of Sales and the Percentage of Receivables Methods Keefer Company uses the percentage of sales method for computing bad debt expense. As of January 1, 2009, the balance of...

Dodge Company had the following information relating to its accounts receivable at December 31, 2008, and for the year ended December 31, 2009: Accounts receivable balance at 12/31/08 . . . .. . . ....

Keefer Company uses the percentage of sales method for computing bad debt expense. As of January 1, 2003, the balance of Allowance for Bad Debts was $200,000. Write-offs of uncollectible accounts...

Rogala Foods Inc. was formed in 2015 with the merger of Grouch Mayer and Tashamo Corporation. The company reported the following rounded amounts for the year ended January 3, 2016 (all amounts in...

Multiple Choice Questions Use the following information for questions 14. Freds Supply Store just received its monthly bank statement from Local Street Bank. The bank gives a balance of $45,000....

The Ideal Op-Amp has the following characteristics: 01- Rin= 0, A= Ro = 0 02. Rin= , A=, 3. Rin= A= 3/ 0/ ARin= 0, A=, Windows bul Ro= Ro = 0 Ro=00

Running Head: MOTIVATION AND LEADERSHIP Employee Needs: 1) Please take a look at the bulleted needs described on pages 238-240: survival, security, belonging, respect, and fulfillment. Then, describe...

If a firm has no excess capacity, which of the following is a sensible bidding strategy? Multiple Choice Set a price to cover all costs Base the bid solely on direct labor hours Downplay the...

One operation of a mill is to cut pieces of steel into parts that will later be used as the frame for front seats in an automobile. The steel is cut with a diamond saw and requires the resulting...

The TLB Yogurt Company must be able to make 600 party cakes in a 40-hour week. Use the following information to draw and label a precedence diagram, compute cycle time, compute the theoretical...

The Deer Valley Farm produces a natural organic fertilizer, which it sells mostly to gardeners and homeowners. The annual demand for fertilizer is 220,000 pounds. The farm is able to produce 305,000...

The TransCanada Lumber Company and Mill processes 10,000 logs annually, operating 250 days per year. Immediately upon receiving an order, the logging companys supplier begins delivery to the lumber...

BSBFIN601 You've become aware of a new competitor opening in your local area

Required: 1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected. 2. Record the adjusting entry...

. A company reports the following amounts at the end of the year (before adjustment): (If no entry is required for a particular. transaction/event, select "No Journal Entry Required" in the first...

In preparing its August 31, 2016 bank reconciliation, Oakley Corp. has available the following information: Balance per bank statement, 8/31/16 $65,490 Deposit in transit, 8/31/16 10,170 Return of...

Help Save & Exit Submit A company reports the following amounts at the end of the year (before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible...

Need help with the last parts! explanations would be nice 1) Post the information from the journal entries into the general ledger and calculate balances. 2) Complete a Trial Balance from the...

Please use the following information to complete a bank reconciliation for the Flag Company. 1. The ledger account for Cash showed a balance of $125,568 on October 31. 2. The October bank statement...