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Exercise 7 - 1 2 ( Static ) Percent of sales method LO P 3 Warner Company's year - end unadjusted trial balance shows accounts

Exercise 7-12(Static) Percent of sales method LO P3
Warner Company's year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600(credit), and sales of $140,000. 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.
\table[[Date,General Journal,Debit,Credit],[\table[[December],[31]],,,],[,,,],[,,,],[,,,]]
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