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Kreton Ventures Company reported an opening balance of $929,000 in its allowance for uncollectible accounts. Kreton Ventures determined that a $57,800 account due from Roget
Kreton Ventures Company reported an opening balance of $929,000 in its allowance for uncollectible accounts. Kreton Ventures determined that a $57,800 account due from Roget Associates was uncollectible. Prepare the journal entry to write off the Roget account assuming that Kreton Ventures uses the allowance method. (Record debits first, then credits. Exclude explanations from any journal entries.)
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