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LESSON 17-1 Uncollectible Accounts

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Presentation on theme: "LESSON 17-1 Uncollectible Accounts"— Presentation transcript:

1 LESSON 17-1 Uncollectible Accounts
5/14/2018 LESSON 17-1 Uncollectible Accounts

2 ESTIMATING AND RECORDING UNCOLLECTIBLE ACCOUNTS EXPENSE
page 515 Estimated Uncollectible Accounts Expense = Percentage × Total Sales on Account $1,287,330.00 × 1.0% = $12,873.30 LESSON 17-1

3 ANALYZING AND JOURNALIZING AN ADJUSTMENT FOR UNCOLLECTIBLE ACCOUNTS EXPENSE
page 516 1 3 2 1. Enter and label credit amount. 2. Enter and label debit amount. 3. Record adjusting entry. LESSON 17-1

4 POSTING AN ADJUSTING ENTRY FOR UNCOLLECTIBLE ACCOUNTS EXPENSE
page 517 1. Debit 2. Credit 1 2 LESSON 17-1

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