QS 7-9(Algo) Percent of sales method LO P3 BioWare's year-end unadjusted trial balance...

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Accounting

QS 7-9(Algo) Percent of sales method LO P3
BioWare's year-end unadjusted trial balance shows accounts receivable of $23,000 and sales of $340,000. Uncollectibles are
estimated to be 2% of sales.
Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method.
Journal entry worksheet
1
Record the estimate of uncollectibles.
Note: Enter debits before credits.
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