Question
The general ledger account for Accounts Receivable shows a debit balance of $25,000. Allowance for Uncollectible Accounts has a credit balance of $1.500. Net sales
The general ledger account for Accounts Receivable shows a debit balance of $25,000. Allowance for Uncollectible Accounts has a credit balance of $1.500. Net sales for the year were $250,000. In the past, 3 percent of sales have proved uncollectible; and an aging of accounts receivable resulted in an estimate of $10,000 of uncollectible accounts receivable. Using the accounts receivable aging method, the Allowance for Uncollectible Accounts balance (after adjustment) would be Please look again at after adjustment, iknow the answer is 10000 but i dont know how i got that number.
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