Required:

1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Required information Exercise 5-20A Compare the percentage-of-receivables method and the percentage-of-credit-sales method (LO5-9) [The following information applies to the questions displayed below.] Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 Accounts Receivable, December 31, 2021 Allowance for Uncollectible Accounts, December 31, 2021 $247,000 42,000 1,100 (debit) Journal entry worksheet 1 Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021