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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
The following information is from the 2017 records of Robin Antique Shop:

Accounts receivable, December 31, 2017   $44,000 (debit)
Allowance for Bad Debts, December 31, 2017
prior to adjustment   1,100 (debit)
Net credit sales for 2017   176,000
Accounts written off as uncollectible during 2017   11,000
Cash sales during 2017   27,000

Bad debts expense is estimated by the percent-of-sales method. Management estimates that 5% of net credit sales will be uncollectible. The ending balance of the Allowance for Bad Debts account after adjustment will be ________.
A) $7,700
B) $9,050
C) $11,250
D) $9,900
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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