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A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year Debit Credit Cash Sales
A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year
| Debit | Credit | |
| Cash Sales | $188,000 | |
| Credit Sales | $275,000 | |
| Accounts Receivable | $76,000 | |
| Allowance for Doubtful Accounts | $1,000 |
Prepare the adjusting entry to estimate bad debts assuming an aging analysis estimates that 8% of the outstanding accounts receivable will be uncollectible. Show the work in a journal entry table.
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