A trial balance before adjustment included the following: ________________________________Debit Credit Accounts receivable............................$128,000.................................... Allowance for doubtful accounts.....................................................670 Sales........................................................................................$342,000

Question:

A trial balance before adjustment included the following:
________________________________Debit Credit
Accounts receivable............................$128,000....................................
Allowance for doubtful accounts.....................................................670
Sales........................................................................................$342,000
Sales returns and allowances ..................8,200....................................
Give journal entries assuming that the estimate of uncollectible is determined by taking
(1) 6% of gross 1% of net sales.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...