Allowance for Doubtful Accounts; and $2,164,000 in Sales. Uncollectible accounts are estimated to be 2.5%...
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Allowance for Doubtful Accounts; and $2,164,000 in Sales. Uncollectible accounts are estimated to be 2.5% of sales. Check my Unadjusted balances at December 31, 2021, were Accounts Receivable. $570,000: Allowance for Doubtful Accounts. $9,000 credit: and Sales, $3,640,000. Corolla Sales changed the method of estimating uncollectible accounts to 4% of outstanding accounts receivable. 5 At December 31, 2022, the general ledger showed unadjusted balances of $468,000 in Accounts Receivable: $1,500 debit in Allowance for Doubtful Accounts; and $3,456,000 in Sales. Corolla prepared an aging analysis on December 31, 2022 that estimated total uncollectible accounts to be $56.900. Book Required: Prepare the 2020 2021, and 2022 year-end adjusting entries to estimate uncollectible accounts. Print View transaction list erences Journal entry worksheet
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