Posted by Misty on .
Assume that October's credit sales were $35,000. In the space below record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions:
a. The Allowance for Doubtful Acccounts before adjustment has a credit balance of $500.
b. The Allowance for Doubtful Accounts before adjustment has a debit balance of $250.
c. Uncollectible accounts expense is estimated at 2% of sales.
Identifying and journalizing Closing Entries Klein Photography