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During its first year of operations. Pharoah Company had credit sales of $4,200,000, of which...

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Accounting

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During its first year of operations. Pharoah Company had credit sales of $4,200,000, of which $430,000 remained uncollected at yearend. The credit manager estimates that $25,200 of these receivables will become uncollectible. (a) Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit occount titles are automatically indented when amount is entered. Do not indent manually)

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