During its first year of operation in 2014, Jameson Sales Corporation made most of its sales on credit At the end of the year, accounts receivable amounted to $175,000 On December 31, 2014, management reviewed the collectible status of the accounts receivable Approximately 7 5 of the $175,000 of ac...

Allowance for Uncollectible Accounts Dec 31 13125 Unc ...

During its first year of operation in 2014, Jameson Sales Corporation made most of its sales on

Question:

During its first year of operation in 2014, Jameson Sales made most of its sales on credit. At the end of the year, amounted to $175,000. On December 31, 2014, management reviewed the collectible status of the Approximately 7.5% of the $175,000 of were estimated to be uncollectible.
What adjusting entry would be made 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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...