Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. journal entry to record the uncollectible account

journal entry to record the uncollectible account expense under the allowance method is: a. Dr...

80.2K

Verified Solution

Question

Accounting

image
journal entry to record the uncollectible account expense under the allowance method is: a. Dr Allowance for Doubtful Accounts (ADA) b. Dr Uncollectible Account Expense c. Dr Uncollectible Account Expense d. None of the above Cr Uncollectible Account Expense Cr Accounts Receivable Cr Allowance for Doubtful Accounts (ADA) XX Xx Table ACC 203-2 On December 31, 2017,Trista Inc, had the following accounts and balances (before adjustment) on its books: Accounts Receivable Allowance for Doubtful Accounts (ADA) Net Sales $120,000 3,000 (credit balance 750,000 19. Refer to Table ACC 203-2. Trista uses the percentage of sales method estimates that its Uncollectible Account Expense is 2% of Net Sales. The Uncollectible Account Expense for 2017 should be: a. $12,000 b. $18,000 c.$9,000 d. $15,000 20. Refer to Table ACC 203-2. Trista uses the percentage of receivables method and estimates that its Uncollectible Account Expense is 10% of Accounts Receivable. The Uncollectible Account Expense for 2017 should be: a. $12,000 b. $18,000 C. $9,000 d. $15,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Air is a mixture of gases with the following mass percentage composition: 75.52% N2, 23.15% O2,...

Chemistry
Q

What is a two complements overflow, what is a signed overflow, what is an unsigned overflow,...

Electrical Engineering
Q

Step 1: Read the Mini-Case Below Control is one of the most controversial aspects of management. Exercising...

Psychology
Q

INDIVIDUAL CASE STUDY President Store Corporate operated around 300 Starbucks coffee outlets in Taiwan under a joint...

General Management
Q

11. The metal knob of a gold leaf electroscope is touched with a positively charged...

Physics
Q

April May June July August September October November December Send data to Excel Part 0...

Statistics
Q

(1 point) If tan = 9/11, and if cos 0 <0, thensec 0 =cos 0...

Algebra
Q

3x Determine lim 6 6 2 O infinity O 1 2 O infinity O 3

Algebra
Q

Examples of Transactions related to receivables: Zero interest note Kohl Company loaned $66,116 to...

Accounting
Q

Depreciation: Depreciation

Accounting
Q

The following list of accounts and their balances represents the unadjusted trial balance of Alt...

Accounting
Q

Q3) Problem 20-48 on page 854 (30 marks) Part 1 -Part 2 PLEASE NOTE: The...

Accounting