Business, 06.05.2020 06:37 erinloth123

Warner Company’s year-end unadjusted trial balance shows accounts receivable of $113,000, allowance for doubtful accounts of $740 (credit), and sales of $420,000. Uncollectibles are estimated to be 1.50% of accounts receivable.

1. Prepare the December 31 year-end adjusting entry for uncollectibles.
2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $1,000?

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Warner Company’s year-end unadjusted trial balance shows accounts receivable of $113,000, allowance...