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What should be the required adjustment to the allowance

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Question 1: In 2020, Freeze Company had credit sales of $1,800,000. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $45,000. During 2020, $75,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance balance should be 10% of the accounts receivable balance. What should be the required adjustment to the Allowance for Doubtful Accounts at December 31, 2020 If the ending account receivable balance $480,000?

Option a. $48,000

Option b. $75,000

Option c. $93,000

Option d. $78,000

Reference no: EM132538426

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