Assume the following accounts receivable aging schedule and the estimated uncollectible percentages of accounts receivable. Further assume
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Assume the following accounts receivable aging schedule and the estimated uncollectible percentages of accounts receivable.
Further assume that the Allowance for Doubtful Accounts has a credit balance of $3,000 at June 30, the end of the accounting period. Using the accounts receivable aging method, what would be the journal entry at June 30?
A. Debit Uncollectible Accounts Expense for $3,700, and credit Allowance for Doubtful Accounts for $3,700.
B. Debit Uncollectible Accounts Expense for $700, and credit Allowance for Doubtful Accounts for $700.
C. Debit Uncollectible Accounts Expense $6,700, and credit Accounts Receivable for $6,700.
D. None of the above
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