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Kirchhoff Industries has computed that the proper balance for the Allowance for Doubtful Accounts at August 31 is $140,434. Assume that the allowance for

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Kirchhoff Industries has computed that the proper balance for the Allowance for Doubtful Accounts at August 31 is $140,434. Assume that the allowance for doubtful accounts for Kirchhoff Industries has a credit balance of $6,971 before adjustment on August 31. Required: Journalize the adjusting entry for uncollectible accounts as of August 31. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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