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3. The general ledger account for Accounts Receivable shows a debit balance of $25,000. Allowance for Uncollectible Accounts has a debit balance of $3,500. Net
3. The general ledger account for Accounts Receivable shows a debit balance of $25,000. Allowance for Uncollectible Accounts has a debit balance of $3,500. Net sales for the year were $250,000. In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $10,000 of uncollectible accounts receivable. Using the accounts receivable aging method, the entry to record Uncollectible Accounts Expense would be: (3 Pt) a. Uncollectible Accounts Expense 10,750 Allowance for Uncollectible Accounts 10.750 b. Uncollectible Accounts Expense 8,500 Allowance for Uncollectible Accounts 8,500 c. Allowance for Uncollectible Accounts 10,000 Uncollectible Accounts Expense 10,000 d. Uncollectible Accounts Expense Allowance for Uncollectible Accounts xpense 13.500 12,500
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