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Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 251,000 Accounts Receivable, December 31, 2021 46,000
Suzuki Supply reports the following amounts at the end of 2021 (before adjustment).
Credit Sales for 2021 $ 251,000 Accounts Receivable, December 31, 2021 46,000 Allowance for Uncollectible Accounts, December 31, 2021 1,100 (Credit)
2. Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected
Suzuki Supply reports the following amounts at the end of 2021 (before adjustment).
| Credit Sales for 2021 | $ | 251,000 | ||
| Accounts Receivable, December 31, 2021 | 46,000 | |||
| Allowance for Uncollectible Accounts, December 31, 2021 | 1,100 | (Credit) | ||
2. Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected
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