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What adjusting entry or entries to estimate sales discounts

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Question - Netherland Corporation has the following unadjusted balances: Accounts Receivable, $83,000 (debit), and Allowance for Sales Discounts $330 (credit). Of the receivables, $53,000 of them are within the 3% discount period, and Netherland expects buyers to take $1,590 in future-period discounts ($53,000 × 3%) arising from this period's sales. What the adjusting entry or entries to estimate sales discounts?

Reference no: EM133022185

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