Artemis Inc.'s trial balance before year-end adjustments included the following: Debit Credit Sales revenue $1,700,000 Sales returns and allowance $ 56,000 Accounts receivable 172,000 Allowance for doubtful accounts 3,040 If the estimate of uncollectible accounts is 5% of gross accounts receivables, what is the amount of the adjustment needed at year-end ?

Answer rating: 100% (QA)

Calculating the Adjustment Needed for Uncollectible Accounts Based on th... View the full answer