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A trial balance before adjustment included the following: Debit Credit Accounts receivable $108,000 Allowance for doubtful accounts 760 Sales $539,000 Sales returns and allowances 6,100
A trial balance before adjustment included the following:
Debit | Credit |
Accounts receivable | $108,000 |
Allowance for doubtful accounts | 760 |
Sales | $539,000 |
Sales returns and allowances | 6,100 |
Give journal entries assuming that the estimate of uncollectibles is determined by taking
(1) 4% of gross accounts receivable (Credit account titles are automatically indented when the amount is entered.Do not indent manually.)
Account Titles and Explanation | Debit | Credit |
(2) 3% of net sales. (Credit account titles are automatically indented when the amount is entered.Do not indent manually.)
Account Titles and Explanation | Debit | Credit |
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