Total balance for the allowance of uncollectible accounts

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Reference no: EM131211085

Complete all journal entries necessary to reflect the adjustment necessary for the Allowance for Uncollectible Accounts based on Percentage of Receivables. Calculate the total balance for the Allowance of Uncollectible Accounts and enter it below. ABC Company has a total amount of Accounts Receivable of $1,500,000 prior to any year-end adjustments The current balance in the Allowance for Uncollectible Accounts is $15,750 The company has determined that the year-end allowance should be 2% of outstanding receivables.

Reference no: EM131211085

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