Wilton inc had net sales in 2014 of 1428100 at december 31

Reference no: EM13485130

Wilton, Inc. had net sales in 2014 of $1,428,100. At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable $317,300 debit, and Allowance for Doubtful Accounts $2,780 credit.

Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Assume Wilton prepares an aging schedule that estimates total uncollectible accounts at $27,400. Prepare the entry to record bad debt expense.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Reference no: EM13485130

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