Suzuki Supply reports the following amounts at the end of 2018 (before adjustment). ...
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Accounting
Suzuki Supply reports the following amounts at the end of 2018 (before adjustment).
| Credit Sales for 2018 | $258,000 | |
| Accounts Receivable, December 31, 2018 | 53,000 | |
| Allowance for Uncollectible Accounts, December 31, 2018 | 1,200 | (debit) |
1. Record the adjustment for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 11% of receivables will not be collected.
2. Record the adjustment for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 1% of credit sales will not be collected.
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