An analysis of the accounts receivable of Matsushita Compa
Question and Solution
An analysis of the accounts receivable of Matsushita Company as of December 31, 20--, reveals the following:
REQUIRED 1. Prepare an aging schedule as of December 31, 20--, by adding the following column to the three columns shown above: Estimated Amount Uncollectible. 2. Assuming that Allowance for Bad Debts had a credit balance of $1,750 before adjustment, record the end-of-period adjusting entry in general journal form to enter the estimate for uncollectibleaccounts.