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ABC Company uses the percentage of sales basis to estimate uncollectibles. Below are information related to the Company: Sales Revenue Sales Return and Allowances Sales
ABC Company uses the percentage of sales basis to estimate uncollectibles. Below are information related to the Company: Sales Revenue Sales Return and Allowances Sales Discounts Accounts Receivable AFDA (debit balance) Credit Sales Uncollectible % $135,000 25,000 5,000 45,000 2,000 80% 10% On March 1, the Company wrote-off $230 of a customer account. On May 10, the Company collected fourty percent of the amount previously written-off. What is the amount of estimated uncollectibles to be recorded in the adjusting entry? * Your answer What is the amount to be recorded in the write-off entry?* Your answer What is the amount of cash to be debited in the recovery entry?* Your
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