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Softa [21]
3 years ago
13

He allowance method of estimating uncollectible accounts receivable based on an analysis of receivables shows that $640 of accou

nts receivable are uncollectible. Allowance for Doubtful Accounts has a debit balance of $110. The adjusting entry at the end of the year will include a credit to Allowance for Doubtful Accounts in the amount of:
(A) $530
(B) $640
(C) $750
(D) $110

Business
1 answer:
dsp733 years ago
4 0

Answer: <u><em>The adjusting entry at the end of the year will include a credit to Allowance for Doubtful Accounts in the amount of:  $750</em></u>

Given:

Accounts receivable = $640

Allowance for Doubtful Accounts = $110

<em><u></u></em>

<em><u>Therefore, the correct option is (c).</u></em>

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GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements

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