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0,000. 5. You have just received notice that Sarah Koonce, customer of yours with an Accounts Receivable balance of S200, has gone bankrupt and will
0,000. 5. You have just received notice that Sarah Koonce, customer of yours with an Accounts Receivable balance of S200, has gone bankrupt and will not be making any future payments, Assuming you use the allowance method, the entry you make is to A) debit Allowance for Uncollectible Accounts and credit Accounts Rceivable. B) debit Uncollectible Accounts Expense and credit Accounts Receivable. C) debit Allowance for Uncollectible Accounts and credit Unicollectible Accounts Expense. D) debit Uncollectible Accounts Expense and credit Allowance for Uncollectible Accounts. 6. Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be 554,000. If the balance in Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, wha is the balance after adjustment? A) $18,000 B) $54,000 C) $72,000 D) $38,000 Page 1 0,000. 5. You have just received notice that Sarah Koonce, customer of yours with an Accounts Receivable balance of S200, has gone bankrupt and will not be making any future payments, Assuming you use the allowance method, the entry you make is to A) debit Allowance for Uncollectible Accounts and credit Accounts Rceivable. B) debit Uncollectible Accounts Expense and credit Accounts Receivable. C) debit Allowance for Uncollectible Accounts and credit Unicollectible Accounts Expense. D) debit Uncollectible Accounts Expense and credit Allowance for Uncollectible Accounts. 6. Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be 554,000. If the balance in Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, wha is the balance after adjustment? A) $18,000 B) $54,000 C) $72,000 D) $38,000 Page 1
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