During its first year of operations gehrig company had

Reference no: EM13566184

During its first year of operations, Gehrig Company had credit sales of $3,000,000, of which $400,000 remained uncollected at year-end. The credit manager estimates that $18,000 of these receivables will become uncollectible.

Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Reference no: EM13566184

Questions Cloud

The receivable that is usually evidenced by a formal : money that an employer has advanced an employee is classified on the employers books as an answer employee account

On january 24 2014 it is learned that the companys : at the end of 2013 morley co. has accounts receivable of 700000 and an allowance for doubtful accounts of 25000.1.on

See the four article then write an essay the essays title : see the four article. then write an essay. the essays title is higher education of china and america. the issue of the

A semi annually compounded yield of 35985 offeredcoupons : a semi annually compounded yield of 3.5985 offeredcoupons are paid semi annually how do you calculate the bonds

During its first year of operations gehrig company had : during its first year of operations gehrig company had credit sales of 3000000 of which 400000 remained uncollected at

What are the differences between cash flows used in capital : what are the differences between cash flows used in capital budgeting calculations and past accounting

On january 2 2011 potter company acquired 90 of the : on january 2 2011 potter company acquired 90 of the outstanding common stock of smiley company for 480000 cash. just

According to the pecking order theory if additional : according to the pecking order theory if additional external financing is required what type of securities should a

Morgan company acquires 300000 of nicklaus inc 9 bonds at a : morgan company acquires 300000 of nicklaus inc. 9 bonds at a price of 278384. the interest is payable each december 31

User Account

All Pages