Question
Before adjusting entries, a company ended the year with a debit balance of $120,000 in Accounts Receivable and a credit balance of $2,000 in the
Before adjusting entries, a company ended the year with a debit balance of $120,000 in Accounts Receivable and a credit balance of $2,000 in the Allowance for Uncollectible Accounts. At the end of the year they determined that 10% of their accounts receivable were uncollectible.
What is the ending balance in Allowance for Uncollectible Accounts, after adjusting entries?
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Financial Accounting
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
5th Canadian edition
133472264, 978-0133446265, 133446263, 978-0133472264
