Question
A yearend review of Accounts Receivable and estimated uncollectible percentages revealed thefollowing: Days Outstanding---Accounts Receivable--Est. Percent Uncollectible 130 days----------------- $60,000------------------------------- 2% 3160 days--------------- $45,000-------------------------------- 5%
A yearend review of Accounts Receivable and estimated uncollectible percentages revealed thefollowing:
Days Outstanding---Accounts Receivable--Est. Percent Uncollectible
130 days-----------------$60,000------------------------------- 2%
3160 days---------------$45,000--------------------------------5%
6190 days----------------$24,000-------------------------------12%
Over 90 days--------------$8,000---------------------------------52%
Before the yearend adjustment, the credit balance in Allowance for Uncollectible Accounts was $ 900. Under the agingofreceivables method, the balance in the Allowance for Uncollectible Accounts will be________ after the adjusting entry is made.
A.
$10,490
B.
$9,590
C.
$ 300
D.
$ 11,390
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