A company\'s Allowance for Doubtful Accounts has a credit balance of $1,000. Aft

Question

A company's Allowance for Doubtful Accounts has a credit balance of $1,000. After reviewing the accounts receivable, the company estimates that 3% of its $100,000 in accounts receivable are uncollectible.
Q1. The balance needed in the account Allowance for Doubtful Accounts is $________.
Q2. In order to get the balance needed in Question 1, a credit of $__________ needs to be entered in the Allowance for Doubtful Accounts.
Q3. The name of the account to be debited when making the entry in Question 2 is ______ ___________ ___________.

Explanation / Answer

1. 2.$12350 3.debit account

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