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Warner Company’s year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 0.50% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. What is the procedure to figure this out?

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Warner Company’s year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 0.50% of sales.

Prepare the December 31 year-end adjusting entry for uncollectibles.

What is the procedure to figure this out?

 
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