- Guinevere's sales terms are 1/15 n/30 and it records sales at the gross amount of the invoice. - Guinevere's year end is June 30 - The unadjusted balance in the Allowance for Doubtful Accounts at June 30 is $8,000dr. - Guinevere makes average sales of $2,000,000 per year and averages write offs of uncollectible balances of $100,000 per year. - Sales for the year ended June 30, 2010 are $1,400,000 credit sales and $400,000 cash sales - Guinevere has a very conservative receivables management strategy. - No adjusting entries have been recorded at June 30 Assume that Guinevere had always been allowed under Canadian GAAP to use the Direct Write-Off Method because it had never experienced any bad debt losses in its history as a company. There isn't even an Allowance" account in its General Ledger Chart of Accounts. Under this assumption, the adjusting entry June 30 to record the provision for uncollectible accounts would involve: Multiple Choice A credit to "Uncollectible Accounts Expense" A debit to "Allowance for Uncollectible Accounts" A debit to "Uncollectible Accounts Expense" No entry to be made A credit to Accounts Receivable