At December 31, 2014, State Line Window Sales has an Accounts Receivable balance of $96,000. Allowance for

Question:

At December 31, 2014, State Line Window Sales has an balance of $96,000. Allowance for Doubtful Accounts has a credit balance of $1,340 before the year-end adjustment. Credit Sales Revenue for 2014 was $608,000. State Line Window Sales estimates that doubtful-account expense for the year is 1% of credit sales. Make the year-end entry to record Doubtful-Account Expense. Show how and Allowance for Doubtful Accounts are reported on the at December 31, 2014.

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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...