ACC 291 Week 1 chapter 8 quiz

Feb 3rd, 2012
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Ashford University
Course: ACC 291
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In 2011, Roso Carlson Company had net credit sales of $750,000. On January 1, 2011, Allowance for Doubtful Accounts had a credit balance of $18,000. During 2011, $30,000 of uncollectible accounts receivable were written off. Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2011? a. $10,050. b. $10,500. c. $22,500. d. $40,500.

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