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Prepare the entry to adjust allowance for doubtful accounts

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Reference no: EM132771787

Problem - Sunland Company has been in business for several years. At the end of the current year, the ledger shows:

Accounts Receivable $357,200 Dr.

Sales Revenue 2,341,700 Cr.

Allowance for Doubtful Accounts 7,300 Cr.

Uncollectible accounts are estimated to be 5% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts.

Reference no: EM132771787

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