Question
Flounder Company using an aging method to account for uncollectible accounts. The aging revealed the need for a $32,000 account balance at the end of
Flounder Company using an aging method to account for uncollectible accounts. The aging revealed the need for a $32,000 account balance at the end of the period. The beginning-of-period balance was $15,000 and $10,000 in accounts were actually written off during the period. Which of these reflects the correct journal entry to update the allowance account based on the aging analysis? Question options: a) Accounts Receivable: 27,000, Allow. for Uncollectible Accts: 27,000 b) Uncollectible Accts Expense: 27,000, Accounts Receivable: 27,000 c) Uncollectible Accts Expense: 27,000, Allow. for Uncollectible Accts: 27,000 d) Allow. for Uncollectible Accts: 27,000, Accounts Receivable: 27,000
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