Warner Company’s year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 0.50% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. What is the procedure to figure this out?
Warner Company’s year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 0.50% of sales.
Prepare the December 31 year-end adjusting entry for uncollectibles.
What is the procedure to figure this out?
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
The post Warner Company’s year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 0.50% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. What is the procedure to figure this out? appeared first on Superb Professors.
For any questions, feedback, or comments, we have an ethical customer support team that is always waiting on the line for your inquiries.