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At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts. Following the write-off, what is thebalance of Allowance for Uncollectible Accounts?

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  1. Today, 14:10
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    1. Allowance for uncollectible accounts A/c Dr $15,000

    To Account receivable A/c $15,000

    (Being write off amount is recorded)

    2. $1,000 debit

    Explanation:

    1. The journal entry is shown below:

    Allowance for uncollectible accounts A/c Dr $15,000

    To Account receivable A/c $15,000

    (Being write off amount is recorded)

    2. And, the balance of Allowance for Uncollectible Accounts would be

    = Beginning balance of estimated uncollectible accounts - written off balance

    = $14,000 - $15,000

    = $1,000 debit
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At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts.
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Home » Business » At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts.
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