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Discuss the outstanding receivables

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Reference no: EM131755196

A company shows the following account balances on December 31:

Accounts Receivable

$484,880

Dr.

Allowance for Uncollectible Accounts

18,262

Cr.

Sales

723,614

Cr.

Sales Discounts

23,408

Dr.

The company then wrote off $8,861 of accounts receivable. The Allowance for Uncollectible Accounts is then adjusted to 9% of the outstanding receivables. The amount of the adjusting entry to record uncollectible accounts expense is: Answer to nearest whole dollar without any commas or decimal points eg. 1000 not 1,000.00 Enter a negative number as -10 not (10).

Reference no: EM131755196

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