Question
Warner Companys year-end unadjusted trial balance shows accounts receivable of $101,000, allowance for doubtful accounts of $620 (credit), and sales of $300,000. Uncollectibles are estimated
Warner Companys year-end unadjusted trial balance shows accounts receivable of $101,000, allowance for doubtful accounts of $620 (credit), and sales of $300,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectible.
Journal entry worksheet
- Record the estimate of uncollectibles.
Note: Enter debits before credits.
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Intermediate Accounting
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Volume 1, 6th Edition
1259103250, 978-1259103254, 978-0071339476
