question archive Security Service Company’s Accounts Receivable account shows a debit balance of $104,000 at the end of the year
Security Service Company’s Accounts Receivable account shows a debit balance of $104,000 at the end of the year
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Security Service Company’s Accounts Receivable account shows a debit balance of $104,000 at the end of the year. An aging analysis of the individual accounts indicates estimated uncollectible accounts to be $6,700. Prepare the journal entry to record the uncollectible accounts expense under each of the following independent assumptions: (a) Allowance for Uncollectible Accounts has a credit balance of $800 before adjustment, and (b) Allowance for Uncollectible Accounts has a debit balance of $800 before adjustment.
Option 1
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Option 2
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