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Exercise 8 - 1 2 Estimating bad debt expense - percentage of receivables L O 3 Selected unadjusted account balances at December 3 1 ,

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Exercise 8-12 Estimating bad debt expense-percentage of receivables LO3
Selected unadjusted account balances at December 31,2023, are shown below for Demron Servicing.
Required:
a. Assume that Demron estimates uncollectible accounts as 3.5% of receivables. Prepare the adjusting entry required on December 31,
2023, to estimate uncollectible receivables.
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