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Prepare journal entry to record the uncollectible accounts

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Question - Dacahr Company's Accounts Receivable account shows a debit balance of $52,000 at the end of the year. An aging analysis of the individual accounts indicates estimated uncollectible accounts to be $3,350.

Prepare the journal entry to record the uncollectible accounts expense under each of the following independent assumptions: (a) Allowance for Uncollectible Accounts has a credit balance of $400 before adjustment, and (b) Allowance for Uncollectible Accounts has a debit balance of $400 before adjustment. What is the balance of Allow-ance for Uncollectible Accounts after each of these adjustments?

Reference no: EM132563314

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