Page 3 Question 2(15 MARKS) A. Stewart Corp. disclosed...
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Page 3 Question 2(15 MARKS) A. Stewart Corp. disclosed the following about its Accounts Receivables at December 31, 2014. Cr Dr $1,750,000 Accounts Receivable Allowance for Doubtful Accounts $125,000 The amount estimated to be uncollectible at the end of the year is $180,000. REQUIRED Identity the two methods that could be used in accounting for uncollectible accounts. 1 mark i)Assume Stewart Corp. uses the percentage of sales approach. prepare the journal entry to record 2 marks i -Assume Stewart Corp. uses the percentage of receivable approach, prepare the Journal entry to 2 marks the estimated uncollectible accounts at December 31 . record the estimated uncollectible counts at December 3 B. Fhe comparative Statement of Financial Position of Bellamy Corporation show the following nformation
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