CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 104 In

Question

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Multiple Choice Question 104 In 2018, Marigold Company had credit sales of $892000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance of $22700. During 2018, $36000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance balance should be 10% of the accounts receivable become uncollectible. What should be the required adjustment to the Allowance for Doubtful Accounts at December 31, 2018 if the ending accounts receivable balance was $235000? $36800.00 ?$23500.00 $36000.00 $46200.00 LINK TO TEXT SUBMIT ANSWER Question Attempts: 0 of 1 used SAVE FOR LATER S

Explanation / Answer

Adjustment to Allowance for doubtful accounts = (235000*10%)-(22700-36000)= $36800 Option 1 is correct

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