Author Question: Deductions for U.S. savings bond purchases, pension plan payments, and Social Security taxes are ... (Read 72 times)

PhilipSeeMore · **on:** Jul 5, 2018

Deductions for U.S. savings bond purchases, pension plan payments, and Social Security taxes are considered voluntary deductions.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Team Shirts had an unadjusted balance in its Allowance for uncollectible accounts of (875) on August 31. This amount was left over at the end of August because not as many accounts were written off as previously anticipated.

An aging of accounts receivable at August 31 revealed an estimate of 1,000 for uncollectible accounts. Using the accounts receivable allowance method, bad debts expense for August should be:
A) 125.
B) 275
C) 1,000.
D) 1,875.