Cypress Co.has given you the following information from its aging of Accounts Receivable.Using this information,determine the amount of the journal entry to record the estimated uncollectible accounts.
The current balance in Allowance for Doubtful Accounts is a $326 debit.
Definitions:
Credits
Accounting entries that increase liabilities or equity, or decrease assets.
Posting References
Indicators used in accounting to record the transfer of amounts from the journal to the ledger, facilitating the tracking of transactions through the accounting system.
Journal Entry
A record in accounting that documents a transaction in a company's ledger, thereby affecting at least two accounts to keep the accounting equation in balance.
Corning Company
A technology company known for its specialty glasses, ceramics, and related materials and technologies, including the development of Gorilla Glass.
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