A. Net sales for the year are $800,000, uncollectible accounts expense is estimated at 3% of net sales

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A. Net sales for the year are $800,000, uncollectible accounts expense is estimated
A. Net sales for the year are $800,000, uncollectible accounts expense is estimated at 3% of net sales

A. Net sales for the year are $800,000, uncollectible accounts expense is estimated at 3% of net sales, and the allowance account has a $425 credit balance before adjustment. Prepare the adjusting entry at year end for the uncollectible

 

B. Based on an analysis of accounts in the customers' ledger, estimated uncollectible account total $6,280, and the allowance account has a $325 credit balance before adjustment. Prepare the adjusting entry at year end for the uncollectible

 

C. A 3,500 account receivable from Bentley Co. is written off as uncollectible. The allowance method is use.

 

D. A 1,235 account receivable from Apple Co., which was written off three months earlier, is collected in full. The allowance method is used.