Question

Daley Company uses the allowance method. At December 31, 2015, the companys balance sheet reports Accounts Receivable, Net in the amount of $17,000. On January 2, 2016, Daley writes off a $1,500 customer account balance when it becomes clear that the customer will never pay. What is the amount of Accounts Receivable, Net after the write-off?

A) $17,000

B) $1,500

C) $18,500

D) $15,500

Answer

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