Warner Company’s year-end unadjusted trial balance shows accounts receivable of $112,000, allowance for doubtful accounts of...
Warner Company’s year-end unadjusted trial balance shows accounts receivable of $112,000, allowance for doubtful accounts of $730 (credit), and sales of $410,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles.
Homework Answers
Bad debt expenses = Sales * 1%
= $410,000 * 1%
= $4,100
JOURNAL ENTRY
| December 31 | Bad debt expense | $4,100 | |
| Allowance for doubtful accounts | $4,100 |
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