Question

At December 31, before adjusting and closing the accounts had occurred, the Allowance for Doubtful Accounts of Seaboard Corporation showed a debit balance of $3,200. An aging of the accounts receivable indicated the amount probably uncollectible to be $2,100. Given this information, write the year-end adjusting entry for Seaboard Corporation in Journal Entry format.

Answer 1

Answer:

Debit to Uncollectible Accounts Expense of $5,300.

Explanation:

Based on the information given the year-end adjusting entry for Seaboard Corporation in Journal Entry format will be DEBIT TO UNCOLLECTIBLE ACCOUNTS EXPENSES OF $5,300.

Uncollectible Accounts Expense=Allowance for Doubtful Accounts +Accounts receivable Uncollectible

Uncollectible Accounts Expense=$3,200+$2,100

Uncollectible Accounts Expense=$5,300