Question

Williams Computer Store has credit sales of $526,000 in 2021 and a debit balance of $800 in the Allowance for Doubtful Accounts at year end. As of December 31, 2021, $131,000 of accounts receivable remain uncollected. The credit manager of Williams prepared an aging schedule of accounts receivable and estimates that $8,000 will prove to be uncollectible.

On March 4, 2022 the credit manager authorizes a write-off of the $1,800 balance owed by A. Myers.

Prepare the adjusting entry to record the estimated uncollectible accounts expense in 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Enter an account title to record the estimated uncollectible accounts expense in 2016	Enter a debit amount	Enter a credit amount
Enter an account title to record the estimated uncollectible accounts expense in 2016	Enter a debit amount	Enter a credit amount

  

  

Question Part Score

--/3

Show the balance sheet presentation of accounts receivable on December 31, 2021.

Williams Computer Store Balance Sheet
Enter an account title		$Enter a dollar amount
Select between addition and deduction                                                                      LessAdd: Enter an account title		Enter a dollar amount

Answer 1