Question
Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 259,000 Accounts Receivable, December 31, 2021 54,000
Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 259,000 Accounts Receivable, December 31, 2021 54,000 Allowance for Uncollectible Accounts, December 31, 2021 1,000 (Credit)
Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 2% of credit sales will not be collected
Journal entry worksheet
- Record the adjusting entry for Uncollectible Accounts.
Note: Enter debits before credits.
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