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alex41 [277]
2 years ago
10

A company has​ $321,000 in credit sales. the company uses the allowance method to account for uncollectible accounts. the allowa

nce for doubtful accounts now has an​ $8,150 debit balance. if the company estimates​ 5% of credit sales will be​ uncollectible, what will be the amount of the journal entry to record estimated uncollectible​ accounts?
Business
1 answer:
Mkey [24]2 years ago
6 0
321,000×0.05=16,050

Adjusted balance
16,050+8,150=24200

Journal entry
Bad debt expenses (Dr 16050)
Allowance for doubtful accounts (Cr 16050)
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