1. The income statement approach to estimating uncollectible accounts expense is used by Dexter Company....
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1. The income statement approach to estimating uncollectible accounts expense is used by Dexter Company. Net credit soles for February amounted to $2,000,000. The credit manager estimated that uncollectible accounts expense would amount to 1% of net credit sales made during February. Allowarice for Donbtul Accounts currently has a $1,500 credit. The following accounts were determined to be uncollectible and written off: March 10 Angie Grant for $10,800 March 22 Kevin Fletsher for $11,200 Instructions Prepare the journat entries made by Dexter Compary on the following dates: 1. February 28 (make ad usting entry for Allowance for Doubtful Accounts) 2. March 10 and March 22 3. What would the bafance be for Allowance for Doubtiul Accounts an March 315t7 (10 points) Accounts: Accounts Receivable, Allowance for Ooubtfui Accounts, Bad Debts Expense
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