Balances in selected accounts

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Reference no: EM13929424

Wilton, Inc. had net sales in 2014 of $1,472,100. At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable $318,400 debit, and Allowance for Doubtful Accounts $4,040 credit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.

Reference no: EM13929424

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Balances in selected accounts : At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable $318,400 debit, and Allowance for Doubtful Accounts $4,040 credit. Assume that 11% of accounts receivable will prove to be uncollectible. Prep..

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