50.1K
Verified Solution
Link Copied!
A trial balance with selected accounts at their normal balances before adjustments included the following:
Sales: $850,000.
Sales returns and allowances : $28,000.
Accounts Receivable: $86,000.
Allowance for doubtful accounts: $1,520.
If the estimate of noncollectable is made by taking 2% of net sales, the amount of the adjustment is:
$13,400.
$17,000.
$16,440.
$19,480.
Answer & Explanation
Solved by verified expert
