Allowance for uncollectible accounts usd 950 credit balance, Accounting Basics

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Allowance for uncollectible accounts usd 950 credit balance

The accounts of Stackhouse Company as of 2010 December 31, show Accounts Receivable, USD 190,000; Allowance for Uncollectible Accounts, USD 950 (credit balance); Sales, USD 920,000; and Sales Returns and Allowances, USD 12,000. Prepare journal entries to adjust for possible uncollectible accounts under each of the following assumptions:

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Accounting Basics: Allowance for uncollectible accounts usd 950 credit balance

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