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Refer to Table 9-5. Assume Ritchie uses the aging-of-accounts-receivable method for estimating ...

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Refer to Table 9-5. Assume Ritchie uses the aging-of-accounts-receivable method for estimating ...

Refer to Table 9-5. Assume Ritchie uses the aging-of-accounts-receivable method for estimating uncollectible accounts. Ritchie estimates that uncollectible accounts will be aged as follows: 2% for 1-30 days; 4% for 31-60 days; 10% for 61-90 days; and 25% for over 90 days. The balance in allowance for doubtful accounts after the adjusting entry for uncollectible accounts will be:
A) $12,280.
B) $6,000.
C) $5,880.
D) $9,220.

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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