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Published byCharity Warner Modified over 9 years ago
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© South-Western Educational Publishing ALLOWANCE METHOD OF RECORDING LOSSES FROM UNCOLLECTIBLE ACCOUNTS Uncollectible Accounts Expense Accounts Receivable Allowance for Uncollectible Accounts DebitCredit Lesson 20-1, page 528
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© South-Western Educational Publishing ESTIMATING UNCOLLECTIBLE ACCOUNTS EXPENSE Total SalesEstimate Uncollectible on Account Percentage=Accounts Expense $982,800.00 1%=$9,828.00 Lesson 20-1, page 529
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© South-Western Educational Publishing ANALYZING AND JOURNALIZING AN ADJUSTMENT FOR UNCOLLECTIBLE ACCOUNTS EXPENSE 1 2 3.Record the adjusting entry. 1. Enter and label credit amount. 2.Enter and label debit amount. 33 Lesson 20-1, page 530
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© South-Western Educational Publishing POSTING AN ADJUSTING ENTRY FOR UNCOLLECTIBLE ACCOUNTS EXPENSE 12 1. Debit 2.Credit Lesson 20-1, page 531
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© South-Western Educational Publishing T ERMS REVIEW uncollectible accounts allowance method of recording losses from uncollectible accounts book value book value of accounts receivable Lesson 20-1, page 532
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