Question
A company shows the following account balances on December 31: Accounts Receivable $484,406 Dr. Allowance for Uncollectible Accounts 18,385 Cr. Sales 735,635 Cr. Sales Discounts
A company shows the following account balances on December 31: Accounts Receivable $484,406 Dr. Allowance for Uncollectible Accounts 18,385 Cr. Sales 735,635 Cr. Sales Discounts 25,797 Dr. The company then wrote off $8,683 of accounts receivable. The Allowance for Uncollectible Accounts is then adjusted to 5% of the outstanding receivables. The amount of the adjusting entry to record uncollectible accounts expense is: Answer to nearest whole dollar without any commas or decimal points eg. 1000 not 1,000.00 Enter a negative number as -10 not (10).
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