Accounts Receivable - Direct Write-Off Method - Journal Entries
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The balance of Accounts receivable is $275,000. Net credit sales for the year were $771,000 and cash sales were $68,000. An analysis of accounts receivable identifies $21,400 of receivables that will NOT be collected. The company uses the direct write-off method of accounting for uncollectible accounts.
Prepare the adjusting entry to record Uncollectible accounts expense.
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Solution Summary
The Solution shows the journal entry to write off an uncollectible account using the direct write off method.
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Answer:
General Journal
Date Accounts ...
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