Brief Exercise 5-3 Record the adjustment for uncollectible accounts (LOS-3) At t

Question

Brief Exercise 5-3 Record the adjustment for uncollectible accounts (LOS-3) At the end of he first ear or operations May erry Adven sing had accounts rece able of S22.30 Management of the company estimates that 10% of the accounts wi no be co ected What adjustment would Mayberry Advertising record for Allowance for Uncollectible Accounts? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment entry for Allowance for Note: Enter debits before credits Credit Record entryClear entry View general journal

Explanation / Answer

Journal entry : 5-3

Journal entry : 5-5

Date accounts & explanation debit credit Bad debt expense (22300*10%) 2230 Allowance for doubtful accounts 2230 (To record adjusting entry)

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