Question
Warner Companys year-end unadjusted trial balance shows accounts receivable of $118,000, allowance for doubtful accounts of $790 (credit), and sales of $470,000. Uncollectibles are estimated
Warner Companys year-end unadjusted trial balance shows accounts receivable of $118,000, allowance for doubtful accounts of $790 (credit), and sales of $470,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectible.
- Record the estimate of uncollectibles.
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Artificial Intelligence In Accounting And Auditing Knowledge Representation Accounting Applications And The Future Volume 3
Authors: Miklos A. Vasarhelyi
1st Edition
1558760784, 978-1558760783
