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What was the balance of Allowance for Uncollectible Accounts

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Question - Suppose at the end of the year before any adjusting entries, Sun Devil company has a balance in Allowance for Uncollectible Accounts of $5,000 (debit). During the year, the company reported the following amounts:

Credit sales to customers = $550,000

Cash collections from customers = $540,000

Actual bad debts = $20,000

Required - What was the balance of Allowance for Uncollectible Accounts at the beginning of the year?

A. $20,000.

B. $10,000.

C. $15,000.

D. $25,000.

Reference no: EM133117886

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