BioWare's year-end unadjusted trial balance shows accounts receivable of $31,000 and sales of $420,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year- end adjusting entry for uncollectibles using the percent of sales method.

BioWare's year-end unadjusted trial balance shows accounts receivable of $31,000 and sales of $420,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year- end adjusting entry for uncollectibles using the percent of sales method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Q2.

BioWare's year-end unadjusted
trial balance shows accounts
receivable of $31,000 and sales
of $420,000. Uncollectibles are
estimated to be 2% of sales.
Prepare the December 31 year-
end adjusting entry for
uncollectibles
using the percent
of sales method.

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