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At December 31, Gill Co. reported accounts receivable of $240,000 and an allowance for uncollectible accounts of $1,500 (credit). An analysis of accounts receivable suggests
At December 31, Gill Co. reported accounts receivable of $240,000 and an allowance for uncollectible accounts of $1,500 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 1% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: |
$900.
$1,500.
$2,400.
$610.
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