Homework Answers
| a] | Amount for uncollectible = 400000*3% = | 12000 | |
| b] | 1st April 2019: JOURNAL ENTRY: | ||
| Allowance for uncollectible accounts | 600 | ||
| Accounts receivable | 600 | ||
| c] | Bad debts expense | 12000 | |
| Allowance for uncollectible accounts | 12000 | ||
| d] | Accounts receivable | 50000 | |
| Less: Allowance for uncollectible accounts = 400+12000 = | 12400 | ||
| Accounts receivable [net] | 37600 |
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