QS $7\mathrm{.}9($Algo$)$ Percent of sales method LO P$3$

BioWare's year$-$end unadjusted trial balance shows accounts receivable of $$18,000$ and sales of $$290,000.$ Uncollectibles are estimated to be $2\%$ of sales.

Prepare the December $31$ year$-$end adjusting entry for uncollectibles using the percent of sales method

Journal entry worksheet

$1$

Record the estimate of uncollectibles.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December$],[31]],,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$