Multiple Choice
A & B Commercial Cleaning is a new business.During its first year of operations,credit sales were $42,000 and collections from credit sales were $31,000.One account for $625 was written off.Management uses the percent-of-sales method to account for bad debts expense and estimates 2% of credit sales to be uncollectible.What is the balance of Accounts Receivable at the end of the first year?
A) $11,000
B) $9535
C) $10,375
D) $10,160
Correct Answer:
Verified
Correct Answer:
Verified
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