Business, 25.02.2020 19:54 artic0203

Oakpark, Inc.’s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current balances and $20,000 past-due balances. At December 31, the Allowance for Doubtful Accounts had a credit balance of $1,600. Oakpark estimated that 2% of current balances and 15% of past-due balances will prove uncollectible.

The adjusting entry to record credit losses is:

A) Bad Debts Expense 5800

Allowance for Doubtful Accounts 5800

B) Bad Debts Expense 4600

Allowance for Doubtful Accounts 4600

C) Bad Debts Expense Accounts Receivable 4200

A/R 4200

D) Bad Debts Expense 7400
Allowance for Doubtful Accounts 7400

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Oakpark, Inc.’s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current ba...

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