Question :
41. A firm reported net credit sales of $450,000 during the : 1197601
41. A firm reported net credit sales of $450,000 during the year and has a balance of $40,000 in its Accounts Receivable account at year-end. Prior to adjustments, Allowance for Doubtful Accounts has a debit balance of $200. The firm estimates its losses from uncollectible accounts to be one-half of 1 percent of net credit sales. The entry to record the estimated losses from uncollectible accounts will include a credit to Allowance for Doubtful Accounts for
A. $4,500.
B. $2,450.
C. $2,250.
D. $1,800.
42. On December 31, prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $200. An aging Analyze of the accounts receivable produces an estimate of $1,000 of probable losses from uncollectible accounts. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $200.
B. $800.
C. $1,000.
D. $1,200.
43. On December 31, prior to adjustment, Allowance for Doubtful Accounts has a credit balance of $400. An aging analysis of the accounts receivable produces an estimate of $2,000 of probable losses from uncollectible accounts. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $400.
B. $1,600.
C. $2,000.
D. $2,400.
44. On December 31, prior to adjustment, Allowance for Doubtful Accounts has a debit balance of $400. An aging of the accounts receivable produces an estimate of $2,600 of probable losses from uncollectible accounts. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $2,200.
B. $2,600.
C. $3,000.
D. $400.
45. On December 31, prior to adjustment, Allowance for Doubtful Accounts has a debit balance of $800. An aging of the accounts receivable produces an estimate of $5,200 of probable losses from uncollectible accounts. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $800.
B. $4,400.
C. $5,200.
D. $6,000.
46. On December 31, prior to adjustments, the balance of Accounts Receivable is $16,000 and Allowance for Doubtful Accounts has a credit balance of $95. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $705.
B. $800.
C. $895.
D. $95.
47. On December 31, prior to adjustments, the balance of Accounts Receivable is $32,000 and Allowance for Doubtful Accounts has a credit balance of $190. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $190.
B. $1,410.
C. $1,600.
D. $1,790.
48. On December 31, prior to adjustments, the balance of Accounts Receivable is $26,000 and Allowance for Doubtful Accounts has a debit balance of $300. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $1,000.
B. $1,300.
C. $1,600.
D. $300.
49. On December 31, prior to adjustments, the balance of Accounts Receivable is $52,000 and Allowance for Doubtful Accounts has a debit balance of $600. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for
A. $600.
B. $2,000.
C. $2,600.
D. $3,200.
50. On December 31, 2014, prior to adjustments, Accounts Receivable has a debit balance of $356,000 and the Allowance for Doubtful Accounts has a credit balance of $1,200. The firm estimates its losses from uncollectible accounts to be 4% of accounts receivable at the end of the year. The amount of the adjusting entry needed to record the estimated losses from uncollectible accounts is
A. $13,040
B. $14,240
C. $15,440
D. $17,800
