During its first year of operations , Precious Cargo , Inc had sales of $443,000 , all on account. Industry experience suggests that Precious Cargos uncollectibles will amount to 4% of credit sales. At December 31,2021 , accounts receivable total 57,000. The company uses the allowance method to account for uncollectibles.

During its first year of operations, Precious Cargo, Inc. had sales of $443.000, all on account. Industry experience suggests that Precious Cargo's uncollectibles will amount to % of credit sales. At December 31, 2021, accounts receivable total $57,000. The company uses the allowance method to account for uncollectibles 1. Make Precious Cargo's journal entry for uncollectble-account expense using the percent-of-sales method 2. Show how Precious Cargo should report accounts receivable on its balance sheet at December 31, 2021 1. Make Precious Cargo's journal entry for uncollectible-account expense using the percent-of-sales method. (Record debits first, then credits. Exclude explanations from journal entries Journal Entry During its first year of operations, Precious Cargo, Inc. had sales of $443,000, all on account. Industry experience suggests the Journal Entry Date Accounts Debit Credit Dec 31 Help me solve this Calculator