CHAPTER 5 Receivables and Sales ge E5-20 Refer to the information in E5 19, but now assume that the balance of the Allowance for Uncollectible Accounts on December 31, 2015, is $1,100 (debit) (before adjustment). Required: 1. Record the adjustment for uncollectible accounts using the percentage-of- receivables method. Suzuki estimates 12% of receivables will not be collected. 2. Record the adjustment for uncollectible accounts using the percentage-of-credit- sales method. Suzuki estimates 3% of credit sales will not be collected. 3. Calculate the effect on net income (before taxes) and total assets in 2015 for each method. CHAPTER 5 Receivables and Sales ge E5-20 Refer to the information in E5 19, but now assume that the balance of the Allowance for Uncollectible Accounts on December 31, 2015, is $1,100 (debit) (before adjustment). Required: 1. Record the adjustment for uncollectible accounts using the percentage-of- receivables method. Suzuki estimates 12% of receivables will not be collected. 2. Record the adjustment for uncollectible accounts using the percentage-of-credit- sales method. Suzuki estimates 3% of credit sales will not be collected. 3. Calculate the effect on net income (before taxes) and total assets in 2015 for each method