Question
At December 31, Gill Co. reported accounts receivable of $241,000 and an allowance for uncollectible accounts of $1,400 (debit) before any adjustments. An analysis of
At December 31, Gill Co. reported accounts receivable of $241,000 and an allowance for uncollectible accounts of $1,400 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
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Auditing The Risk Management Process
Authors: K. H. Spencer Pickett
1st Edition
0471690538, 978-0471690535
