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