Question Help Cornelius Company had the following informatio

Question Help Cornelius Company had the following information in 2014 Accounts receivable 12/31/14 Allowance for uncollectible account 12/31/14 (before adjustment) Credit sales during 2014 Cash sales during 2014 Collections from customers on account during 2014 If uncollectible accounts are determined by the aging-of-receivables method to be $1,150, the uncollectible account $ 11,000 900 47,000 11,000 46,000 expense for 2014 would be $250. The balance of the Allowance account after the adjusting entry would be O A. $250. OB. $900. O C. $1,150 OD, $2,050. Previous Nex

Solution

The balance of the Allowance account after adjusting entry would be $1150 Option C is correct