Exercise $7-11($Algo$)$ Percent of sales method LO P$3$

Warner Company's year$-$end unadjusted trial balance shows accounts receivable of $$117,000,$ allowance for doubtful accounts of $$780($credit$),$ and sales of $$460,000.$ Uncollectibles are estimated to be $1\%$ of sales.

Prepare the December $31$ year$-$end adjusting entry for uncollectibles.

Journal entry worksheet

$1$

Record the estimate of uncollectibles.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December$],[31]],7,{}^5,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Prey

$8$ of $15$

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