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2. Rajvirs Law office had $10,000 of Accounts Receivable at August 31,2018. The business uses the Allowance Method to estimate Bad Debts. It was estimated
2. Rajvirs Law office had $10,000 of Accounts Receivable at August 31,2018. The business uses the Allowance Method to estimate Bad Debts. It was estimated that 15% of the A/R was uncollectible. While Rajvir does not know which customer accounts in particular will be uncollectible, you as the companys Chief Accountant has been asked to record the estimated the Bad Debts using journal entries.
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