Questions: Considering the information in the general journal shown here, which of the following is the correct percent of credit sales that are uncollectible? 7 % 9% 2% 5%

Considering the information in the general journal shown here, which of the following is the correct percent of credit sales that are uncollectible? 7 % 9% 2% 5%
Transcript text: Considering the information in the general journal shown here, which of the following is the correct percent of credit sales that are uncollectible? 7 \% 9\% 2\% 5\%
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Solution

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To determine the correct percent of credit sales that are uncollectible, we need to understand the context of the journal entry provided. The journal entry shows a debit to Bad Debts Expense and a credit to Allowance for Bad Debts, both for $12,500. This entry is typically made to adjust the allowance for doubtful accounts based on an estimate of uncollectible accounts.

The question asks for the percent of credit sales that are uncollectible. To find this percentage, we would need to know the total credit sales amount. However, this information is not provided in the question. Therefore, we cannot directly calculate the percentage without additional data.

Given the options provided (7%, 9%, 2%, 5%), we can only make an assumption if we had the total credit sales figure. For example, if the total credit sales were $250,000, then $12,500 as a percentage of $250,000 would be 5%. But without the total credit sales, we cannot definitively determine the correct percentage.

In summary, the question lacks sufficient information to calculate the exact percentage of credit sales that are uncollectible. Therefore, none of the options can be confirmed as correct without additional data.

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