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At December 31, Gill Co. reported accounts receivable of $279,000 and an allowance for uncollectible...

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Accounting

At December 31, Gill Co. reported accounts receivable of $279,000 and an allowance for uncollectible accounts of $1,500 (credit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:

Multiple Choice

  • $9,660.

  • $1,500.

  • $10,970.

  • $11,160.

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