3) At the beginning of 2021, the balance in Jackson Enterprises' Allowance for Uncollectible Accounts was $31,800. During 2021, the company wrote off $38,000 of accounts receivable. Writing off the individual bad debts would include a: A) Debit to Bad Debt Expense. B) Credit to Accounts Receivable. C) Credit to the Allowance for Uncollectible Accounts. D) Debit to Bad Debt Expense; credit to the Allowance for Uncollectible Accounts. 4) At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: A) $6,540. B) $7,800. C) $7,140. D) $7,740.
3) At the beginning of 2021, the balance in Jackson Enterprises' Allowance for Uncollectible Accounts was $31,800. During 2021, the company wrote off $38,000 of accounts receivable. Writing off the individual bad debts would include a: A) Debit to Bad Debt Expense. B) Credit to Accounts Receivable. C) Credit to the Allowance for Uncollectible Accounts. D) Debit to Bad Debt Expense; credit to the Allowance for Uncollectible Accounts. 4) At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: A) $6,540. B) $7,800. C) $7,140. D) $7,740.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 3CP: At the end of 20-3, Martel Co. had 410,000 in Accounts Receivable and a credit balance of 300 in...
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