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Record the adjusting entry for uncollectible accounts

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Reference no: EM132663377

Suzuki Supply reports the following amounts at the end of 2021 (before adjustment).

Credit Sales for 2021$259,000 A

ccounts Receivable, December 31, 2021 54,000

Allowance for Uncollectible Accounts, December 31, 2021 1,000 (Credit)

Required:

Problem 1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 10% of receivables will not be collected. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Reference no: EM132663377

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