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On December 31, 2019, The following accounts were taken from Moons Co.'s unadjusted trial balance: Debit Credit Accounts receivable 750,000 Allowance for uncollectible accounts

 

On December 31, 2019, The following accounts were taken from Moons Co.'s unadjusted trial balance: Debit Credit Accounts receivable 750,000 Allowance for uncollectible accounts 8,000 Net credit sales $3,000,000 Moons estimates that 2% of the gross accounts receivable will become uncollectible. After of? adjustment at December 31, 2019, the allowance for uncollectible accounts should have a credit balance

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