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Metlock has been in business several years. At the end of the current year, the unadjusted trial balance shows: Accounts Receivable $300,000 Dr. Sales Revenue
Metlock has been in business several years. At the end of the current year, the unadjusted trial balance shows: Accounts Receivable $300,000 Dr.
Sales Revenue 2,321,700 Cr.
Allowance for Doubtful Accounts 5,355 Cr.
Bad debts are estimated to be 8% of receivables.
Prepare the entry to adjust Allowance for Doubtful Accounts.
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