both please :) 15. On December 31, Ferndale Enterprises has an $800 debit balanc

Question

both please :)

15. On December 31, Ferndale Enterprises has an $800 debit balance in Allowance for Uncollectible Accounts. If an accounts receivable aging method analysis indicated that an estimated $6,400 of December 31 receivables are uncollectible, for what amount would the adjusting entry for uncollectible accounts be recorded? (Show your work.) 16. Assume that part of accounts and other receivables on Trejada Toys' balance sheet is S8 million as of February 2, 2014. Also assume that Allowance for Uncollectible Accounts has a credit balance of $275,000, that Trejada estimates its uncollectible accounts as 0.1 percent of net sales, and the amount of sales is S5,509,500,000. Record the adjusting entry to recognize uncollectible accounts using the percentage of net sales method. GENERAL JOURNAL Post. Ref. Debit Credit Date Description the following notes payable

Explanation / Answer

15 Adjusting entry for uncollectible accounts = 6400+800 = 7200 16 Uncollectible accounts expense 5509500 =5509500000*0.1%            Allowance for uncollectible accounts 5509500

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