At the end of the first year of operations. Mayberry Advertising had accounts re

Question

At the end of the first year of operations. Mayberry Advertising had accounts receivable of S21.700 Management of the company estimates that 9% of the accounts will not be collected. What adjustment would Mayberry Advertising record for Allowance for Uncollectible Accounts? (f no entry is required for a transactionlevent, select"No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment entry for Allowance for Uncollectible Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

Explanation / Answer

The correct answer is :

Transaction General Journal Debit Credit 1 Bad Debts Expense 1,953 Allowance for Uncollectible Accounts 1,953

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