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At the end of the year, the company estimates part of accounts receivables that customers won't...

Question:

At the end of the year, the company estimates part of accounts receivables that customers wont pay in the future. What is th
At the end of the year, the company estimates part of accounts receivables that customers won't pay in the future. What is the journal entry for this kind of estimation? Select one: a. Debit-Allowance for Uncollectible Receivables, Credit- Account Receivables X b. Debit - Allowance for Uncollectible Receivables, Credit - Bad debt expense. c. Debit-Bad Debt Expense, Credit- Allowance for Uncollectible Receivables. d. Debit- Account Receivables, Credit - Allowance for Uncollectible Receivables

Answers

Option (c)

Debit Bad debt expense estimate loss on accounts receivable but not actual.
Credit Allowance for uncollectible receivables in order to keep the conservatism principle, an allowance is made.
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