11. A company has net sales of $100,000 during the year. At year end (before...
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11. A company has net sales of $100,000 during the year. At year end (before an adjustment is made), Allowance for Uncollectible Accounts has a credit balance of $5,000. If the company estimates that 3 percent of net sales is uncollectible, what is the balance in the allowance account after the year-end adjustment has been made? A) $3,000 debit balance B) $3,000 credit balance C) $8,000 credit balance D) $2,000 debit balance
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