Business, 20.03.2020 00:00 ddarby

Sanders Inc. is a small brick manufacturer that uses the direct write-off method to account for uncollectible accounts. At the end of 2021, its balance for Accounts Receivable is $32,000. The company estimates that of this amount, $3,700 is not likely to be collected in 2022. In 2022, the actual amount of bad debts is $2,600.

Record, if necessary, an adjustment for estimated uncollectible accounts at the end of 2021 and the actual bad debts in 2022. (If no entry is required for a transaction/event, indicate "No journal entry required".)

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