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    980012l's Avatar
    980012l Posts: 2, Reputation: 1
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    #1

    Jan 26, 2008, 01:29 PM
    Adjustments IN Accounts Receivable
    The company estimates that 3% of Accounts Receivable will not be collected. The year end adjusting entry has not been made.


    Accounts Receivable $700,000

    Now I have calculated $700,000 x 0.03% = $21,000
    So How do I write my adjustments?? Do I write this off as a bad debt?

    I don't quite understand how it should be written (i.e Accounts receivable expense?? )
    p8888's Avatar
    p8888 Posts: 4, Reputation: 1
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    #2

    Jan 27, 2008, 12:25 PM
    Yes bad debt

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