Solved: What would be the adjusted balance of the allowance account, Accounting Basics

+44 141 628 6080
[email protected]

What would be the adjusted balance of the allowance account

Gross Accounts Receivable is $10,000. Allowance for Doubtful Accounts has a credit balance of $200. Net sales for the year are $150,000. In the past, 2% of sales had proved uncollectible. What would be the adjusted balance of the Allowance account under the income statement approach?

A.$3,200
B.$2,800
C.$1,400
D.$3,000

Solution Preview :

Prepared by a verified Expert

Accounting Basics: What would be the adjusted balance of the allowance account

Reference No:- TGS02545152

Now Priced at $10 (50% Discount)

Recommended (90%)

Rated (4.3/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Be sure to label and clearly identify your work to

assignment auerbach enterprisescomplete case 3a auerbach enterprisesin this case you are provided the overhead cost

Q : Calculate the gain or loss to be recognized by j j assume

j amp j exchanged an asset with a book value of 10000 and paid 1000 in cash for a another asset from w amp w company

Q : The process the project manager will use to record the

discussion managing changes to the project scope and scheduleconsider what would happen on your project if your sponsor

Q : Assume lack of commercial substance j j pays 500 in cash j

j amp j trades an asset that had a book value of 18000 for another asset with a fair market value of 20000 assume lack

Q : What would be the adjusted balance of the allowance account

gross accounts receivable is 10000 allowance for doubtful accounts has a credit balance of 200 net sales for the year

Q : You visited their industry and they told us about their

here are some information during the trip to their industryyou visited their industry and they told us about their

Q : You have the following information for jewels gems jewels

you have the following information for jewels gems jewels gems uses the periodic method of accounting for its inventory

Q : How can the ceo of a fast-growing company improve his poor

1from the case study below discuss possible new options for finding quality employees other than those considered in

Q : Analyze the organizations statement of cash flows assess

assignment non-for-profit financial reporting reviewselect one not-for-profit organization in an area of interest to

1940015

Questions
Asked

3,689

Active Tutors

1422205

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Patient with advanced cancer has several morphine orders

A patient with advanced cancer has several morphine orders to manage pain. There is a continuous infusion ordered to run at 6 mg per hour

Client undergoes a modified radical mastectomy

A 36-year-old client undergoes a modified radical mastectomy. The nurse determines that the client understands the schedule for self-examination

What drugs used for acute-painful musculoskeletal condition

Question: What drugs are used to treat acute and painful musculoskeletal conditions?

Findings in the clients medical record

Question: For each of the following findings in the clients medical record, click to specify if they are consistent with angina or a MI.

What is the gold standard

Question: What is the "gold standard" for determining if an exercise intervention increased cardio-respiratory fitness?

Discuss infections associated with clostridioides difficile

The nurse-is teaching a class of staff nurses- about hospital-a acquired i infections associated with Clostridioides difficile.

What is the percentage of occupancy

Surgical Intensive Care Unit at Memorial Hospital had 400 inpatient service days during March. What is the percentage of occupancy?