need help PRINTER VERSION: . Brief Exercise 9-3 During its first year of operati

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PRINTER VERSION: . Brief Exercise 9-3 During its first year of operations, Gavin Company had credit sales of $3,183,600; $638,400 remaine uncollected at year-end. The credit manager estimates that $35,200 of these receivables will becöme uncollectible. 2Your answwer is partially correct. Try again Your answer is partially correct. Try again. Prepare the journal entry to record the estimated uncollectibles, (Credit account tites are automati indented when ansount is entered. Do not indent maneally. LIN TO TEXT LINKTOU

Explanation / Answer

Solution.

1. Journal entry to record the estimated uncollected..

2. Preparation of Current account section of balance sheet for Gavin company

Gavin Company

Balance sheet (Partial)

Account Receivable 3,183,600

Less : Estemated Uncollected (35,200)   

Particular Debit ($) Credit($) Bad Debt Expense 35,200 Allowance for uncollectible accounts 35,200

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