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At June 31st 2020 Johns unadjusted trial balance includes the following: Debit Credit Accounts receivable 140,000 Allowance for doubtful accounts 890 Sales 425,000 Sales returns
At June 31st 2020 Johns unadjusted trial balance includes the following:
Debit Credit
Accounts receivable 140,000
Allowance for doubtful accounts 890
Sales 425,000
Sales returns and allowances 10,000
Journal entries assuming that the estimate of uncollectible accounts will be determined by using
2% of net sales or 5% of gross accounts receivable
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