Question
Assume that Brown Furniture in 2017 has $300,000 accounts receivables remains uncollected at December 31. The credit manager estimates that 4% of these A/R will
Assume that Brown Furniture in 2017 has $300,000 accounts receivables remains uncollected at December 31. The credit manager estimates that 4% of these A/R will be uncollectible. The allowance account had a balance of 1,000 debit balance before adjusting. What is the adjusting entry to record the estimated uncollectibles?
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The Internal Auditing Pocket Guide Preparing Performing Reporting And Follow Up
Authors: J.P. Russell
2nd Edition
1636941303, 978-1636941301
