At the End of the Year,a Company Has a Balance

question 25

Essay

At the end of the year,a company has a balance in Allowance for Uncollectible Accounts of $2,000 (credit)before any year-end adjustment.The balance of Accounts Receivable is $180,000.The company estimates that 5% of accounts receivable will not be collected over the next year.Record the adjustment for uncollectible accounts.

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