eal A company has the following balances on December 31 before any adjustment: Accounts receivable = $47,000; Allowance for uncollectible accounts = 2 $1,100 (credit). On December 31, the company estimates uncollectible accounts to be 15% of accounts receivable. 123456789 ON 3456 1. Record the adjusting entry for uncollectible accounts on December 31. A L SE R E NI CF Account Bad Debt Expense Allowance for Uncollectible Accounts DR CR 10 2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet. 11 12 13 14 15 16 3. Calculate net accounts receivable. 17

A company has the following balances on December 31 before any adjustment: Accounts receivable =$47,000, Alowance for uncollectible accounts = $1,100 (credit). On December 31 , the company estimates uncollectible accounts to be 15% of accounts receivable. 1. Record the adjusting entry for uncolloctible accounts on December 31. 2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet. 3. Calculate net accounts receivable. 3. Calculate net accounts receivable