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Required information Skip to question [The following information applies to the questions displayed below.] Suzuki Supply reports the following amounts at the end of 2021
Required information
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[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 | $ | 246,000 | ||
Accounts Receivable, December 31, 2021 | 41,000 | |||
Allowance for Uncollectible Accounts, December 31, 2021 | 1,200 | (Credit) | ||
Required:
1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 11% 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.)
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