ecure https://newconnect mheducation.com/flow/connect.htm m 3 (Chapters 6. 78) H

Question

ecure https://newconnect mheducation.com/flow/connect.htm m 3 (Chapters 6. 78) Help Save& Exit Submit 5 A company has $93,000 in outstanding accounts recelvable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 3% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful ccounts is an) $830 debit. The journal entry to record the adjustment to the allowance account ncludes a debit to Bad Debts Expense for Mutiple Choice $1.960 2 7 0

Explanation / Answer

C. $3,620

The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:

= ($93,000 * 3%) + $830

= $3,620

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