Question
Exercise 7-12 (Algo) Percent of sales method LO P3 Warner Companys year-end unadjusted trial balance shows accounts receivable of $104,000, allowance for doubtful accounts of
Exercise 7-12 (Algo) Percent of sales method LO P3 Warner Companys year-end unadjusted trial balance shows accounts receivable of $104,000, allowance for doubtful accounts of $650 (credit), and sales of $330,000. Uncollectibles are estimated to be 1% of sales.
Prepare the December 31 year-end adjusting entry for uncollectibles.
Dec 31 Record the estimate of uncollectibles.
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Computerized Accounting With Quickbooks 2018
Authors: James B. Rosa, Kathleen Villani
1st Edition
0763882674, 9780763882679
