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Record the adjusting entry for uncollectible accounts

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Problem 1: Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% 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.)

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

Credit Sales for 2021                                                 $257,000

Accounts Receivable, December 31, 2021                        52,000

Allowance for Uncollectible Accounts, December 31, 2021         1,100 (Credit)

 

Reference no: EM132957029

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