On december 31 prior to adjustments the balance of accounts

Reference no: EM13389276

On December 31, prior to adjustments, the balance of Accounts Receivable is $16,000 and Allowance for Doubtful Accounts has a credit balance of $95. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the end of the year. The adjusting entry needed to record the estimated losses from uncollectible accounts is made for

A) $705.

B) $800.

C) $895.

D) $95.

Reference no: EM13389276

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