At the End of Year 2, the Unadjusted Trial Balance

question 82

Essay

At the end of Year 2, the unadjusted trial balance of Alaska Company includes $1,500,000 of outstanding accounts receivable and an Allowance for Uncollectible Accounts of $14,600.Total sales for the year are $22,200,000 and 85% of the sales were on account.The company estimates that 1.8% of credit sales are uncollectible and no entries have been made during the year to reflect these uncollectibles.Prepare the adjusting entry for the allowance for uncollectible accounts.

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Definitions:

Drives

Biological needs that motivate an organism to fulfill them, such as hunger, thirst, or the need for warmth.

Genetic Variability

The diversity in gene frequencies within a population, leading to differences in traits and potentially in susceptibility to diseases.

Gene Pool

The complete set of genetic information within all the individuals of a population, species, or a particular group.

Beneficial Mutations

genetic mutations that result in advantageous traits or abilities, enhancing an organism's survival or reproduction.