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Allowance for doubtful account adjustment
I have
A/R 250000 (DR SIDE) ALLOWANCE FOR DOUBTFUL ACCOUNT 15000 ( CR SIDE) Question Customer owing 6000 dollars declared bankrupt Estimate of uncollectible accounts is 3% of a/R I already did Allowance for doubtful account $ 6000 ( DR A/R $ 6000 CR But next part 3% uncollectible or A/R Remaining Bal in A/R is 244000 If I take 3% it should be 7320 But I have $ 15000 CR in my ALLOWANCE FOR DOUBTFUL ACCOUNT How and where I should adjust. |
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