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The following is the Aged Accounts Receivable Listing for XYZ Inc. at January 31, 2016: Customer Name Currento - 30 Days 30 - 60 Days
The following is the Aged Accounts Receivable Listing for XYZ Inc. at January 31, 2016: Customer Name Currento - 30 Days 30 - 60 Days 60+ Days % Uncollectible 11% 12% |4% 5% AAA 21,000 42,000 39,000 14,000 BBB 19,000 19,000 19,000 22,000 CCC 5,000 5,000 7,000 9,000 DDD 12,000 15,000 15,000 9,000 The balance in the Allowance for Doubtful Accounts $2,500 debit. What is the appropriate adjustment XYZ Inc. needs to make at January 31, 2016 to update its provision for credit losses? O $4,480 None of the other alternatives are correct $9,490 O $6,980 O $9,480
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