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At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due =
At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due = $77,000; estimated uncollectible = 5%. 2. Accounts 1 to 30 days past due $33,000; estimated uncollectible = 15%. 3. Accounts more than 30 days past due $3,000; estimated uncollectible = 45%. Required: Record the year-end adjusting entry for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $1,100 (debit). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the bad debt expense. Note: Enter debits before credits. Event 1 General Journal Debit Credit
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