Question: Complete E9.5 letter 'b' only on page 9-32 with some modifications. 1) For percentage of sales method, assuming that uncollectibles are 1% of Net Sales,
Complete E9.5 letter 'b' only on page 9-32 with some modifications. 1) For percentage of sales method, assuming that uncollectibles are 1% of Net Sales, the adjusting journal entry on 12/31 to record the estimated uncollectible accounts is Debit and Credit for what dollar amount $ . *Remember that Net Sales are what you want to use in the calculation.* 2) For percentage of receivables method, the new ending balance in the Allowance for Doubtful Accounts is what dollar amount $ ? The adjusting journal entry on 12/31 to record the estimate uncollectible accounts is Debit and Credit for what dollar amount $
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