Business, 26.10.2021 02:10 deniseelyons15

At the end of 2015, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts of $4,500 (debit) before any adjustment. The company estimated its future uncollectible accounts to be $12,000 using the percentage-of-receivables method. Murray State's adjustment on December 31, 2015, to record its estimated uncollectible accounts included a:. A. Credit to Allowance for Uncollectible Accounts of $12,000.
B. Debit to Bad Debt Expense of $16,500; credit to Allowance for Uncollectible Accounts of $16,500.
C. Credit to Allowance for Uncollectible Accounts of $7,500.
D. Debit to Bad Debt Expense of $7,500; credit to Allowance for Uncollectible Accounts of $7,500.

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At the end of 2015, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts o...

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