Warner Company's year-end unadjusted trial balance shows accounts receivable of $105,000, allowance for doubtful accounts of $660 (credit). and sales of $340.000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. V Answer is complete and correct. No Date General Journal Debit Credit Dec 31 Bad debts expense 915 O Allowance for doubtful accounts 915 O 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $600? Amount used in the year-end adjusting entry
Warner Company's year-end unadjusted trial balance shows accounts receivable of $105,000, allowance for doubtful accounts of $660 (credit). and sales of $340.000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. V Answer is complete and correct. No Date General Journal Debit Credit Dec 31 Bad debts expense 915 O Allowance for doubtful accounts 915 O 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $600? Amount used in the year-end adjusting entry
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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