FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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am. 251.

Warner Company's year-end unadjusted trial balance shows accounts receivable of $103,000, allowance for doubtful accounts of
$640 (credit), and sales of $320,000. Uncollectibles are estimated to be 1.50% of accounts receivable.
1. Prepare the December 31 year-end adjusting entry for uncollectibles.
2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit
balance of $500?
Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit
balance of $500?
Amount used in the year-end adjusting entry
< Required 1
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Transcribed Image Text:Warner Company's year-end unadjusted trial balance shows accounts receivable of $103,000, allowance for doubtful accounts of $640 (credit), and sales of $320,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $500? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $500? Amount used in the year-end adjusting entry < Required 1
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