Reference no: EM13492700

Johnson Corporation's Unadjusted Trial Balance at year-end included the following accounts:

Debit Credit

Sales (75% represent credit sales) (credit)$1,152.000

Accounts Receivable (debit) $288,000

Allowance for Doubtful Accounts (credit) $2,184


Compute the uncollectible account expense, and make the appropriate journal entry, for the current year assuming the uncollectible account expense is determined as follows:

• a. Income statement approach, 1% of total sales.
• b. Income statement approach, 1.5% of credit sales.

•c. Balance sheet approach. The estimate based on an aging of accounts receivable is that an allowance of $12,000 would be appropriate.