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Pluto Corp. has the following normal account balances on December 31, 20X1, before any adjustment for bad debts: Accounts Receivable $600,000 Allowance for Uncollectible Accounts
Pluto Corp. has the following normal account balances on December 31, 20X1, before any adjustment for bad debts: Accounts Receivable $600,000 Allowance for Uncollectible Accounts 10,000 (credit) On December 31, Pluto estimates 4% of its total accounts receivables balance is uncollectible at the end of the year. Required: Using the percentage of accounts receivable method, prepare the year-end journal entry to record bad debts for 20X1. Note: Do not include symbols, decimals, or cents in the numerical response. Date Account Name Debit Credit 12/31/X1
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