Fletcher Corporation began Year $1$ with a $$43,000$ balance in its Accounts Receivable and a $$1,200$ balance in its Allowance for Doubtful Accounts. The company wrote off a $$380$ uncollectible account during the year. Fletcher Corporation uses the percent of receivables method to estimate it uncollectible accounts. The company applies the following percentages to each category in its aging of accounts receivable schedule to arrive at its Year $1$ year$-$end required allowance account balance.

Number of Days Past Due

Receivables Amount

$\%$ Likely to be Uncollectible

Required Allowance Account Balance?

Current

$$22,500$

$1\%$

$$225$

$0-30$ days

$9,200$

$5\%$

$460$

$31-60$

$5,100$

$10\%$

$510$

$61-90$

$1,500$

$25\%$

$375$

Over $90$

$900$

$50\%$

$450$

Total

$$39,200$

$$2,020$

What is Fletcher Corporation's general journal entry to record its estimated uncollectible accounts at the end of Year $1?$

Account

Debit

Credit

a

Uncollectible Accounts Expense

$$2,000$

Allowance for Doubtful Accounts

$$2,020$

b

Allowance for Doubtful Accounts

$$2,020$

Uncollectible Accounts Expense

$$2,020$

c

Uncollectible Accounts Expense

$$1,200$

Allowance for Doubtful Accounts

$$1,200$

d

Uncollectible Accounts Expense

$$820$

Allowance for Doubtful Accounts

$$820$

Question $18$ options:

a$)$

A

b$)$

B

c$)$

C

d$)$

D