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The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $3,000. Net sales

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The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $3,000. Net sales for the year were $500,000. In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $20,000 of uncollectible accounts receivable. Using the percentage of net sales method, the entry to record the Uncollectible Accounts Expense would be. The general ledger account for Accounts Receivable shows a debit of $50,000 Allowance for Uncollectible Accounts has a credit balance of $3,000. Net sales for the year were $500,000. In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $20,000 of uncollectible accounts receivable. Using the accounts receivable aging method, the entry to record Uncollectible Accounts Expense would be: Assume that on February 25, a customer who owes Berry Sales Company $2,000 is declared bankrupt by a federal court. The entry that would be made to write off this account is

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