Business, 27.11.2019 01:31 rwbrayan8727

Foster co. adjusted its allowance for uncollectible accounts at year-end. the general ledger balances for the accounts receivable and the related allowance account were $1,000,000 and $40,000, respectively. foster uses the percentage-of-receivables method to estimate its allowance for uncollectible accounts. accounts receivable were estimated to be 5% uncollectible. what amount should foster record as an adjustment to its allowance for uncollectible accounts at year-end?
a. $10,000 increase.
b. $10,000 decrease.
c. $50,000 decrease.
d. $50,000 increase.

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Foster co. adjusted its allowance for uncollectible accounts at year-end. the general ledger balance...

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