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a Secure | https//edugen.wileyplus.com/edugen/student/mainfr.uni Open Assignment Multiple Choice Question 104 A trial balance before adjustments induded the following Credit $1650000 Debit Sales Sales returns and allowance Accounts receivable Allowance for doubtful accounts $55300 167000 2970 If the estimate of uncollectibles accounts is made by taking 3% of gross accounts receivables, the amount of the adjustment is O $7980. O $5010. O $4921. O $2040 QRen Show Work Click if you would like to Show Work for this question: you will learn while you earn points based on the Point Potential Policy set by your instructor By accessing this Question Assistance, Question Attempts: 0 of 1 used SAVE

Explanation / Answer

Gross accounts receivables is $ 167,000.

Estimates of uncollectible accounts is made by 3% of gross accounta receivable

hence, amount of adjustment is equal to $ 167,000*3% i.e. $ 5,010.

Answer is "b" $ 5,010.

Please feel free to ask any quries.

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