1. Business
  2. Accounting
  3. on january 1 2019 triangle corp has the following account...

Question: on january 1 2019 triangle corp has the following account...

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On January 1, 2019, Triangle Corp. has the following account balances: Accounts Receivable Allowance for Bad Debts Bad Debts Expense 22,000 1,400 During the year, Triangle has $160,000 of credit sales, collections of credit sales of $141,000, and write-offs of $3,100. It records bad debts expense at the end of the year using the aging- of - receivables method. At the end of the year, the aging analysis shows that $2.100 is the estimate of uncollectible accounts. Before the year - end entry to adjust the bad debts expense is made, the balance in the Allowance for Bad Debts is A. a debit of $3,100 O B. a credit of $4,500 C. a zero balance O D. a debit of $1,700

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