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A company estimates that $250,000 of its credit sales may be uncollectible. Select...

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Accounting

A company estimates that $250,000 of its credit sales may be uncollectible. Select the correct journal it would record before preparing its financial statements.
1.
db. Allowance for doubtful accounts...........$250,000
cr. Accounts Receivable .......................$250,000
2.
db. Allowance for doubtful accounts...........$250,000
cr. Uncollectible Accounts Expense...............$250,000
3.
db. Uncollectible Accounts Expense...........$250,000
cr. Allowance for doubtful accounts ..............$250,000
4.
db. Uncollectible Accounts Expense...........$250,000
cr. Accounts Receivable............................$250,000

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