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Lesson 14 4
- 1. LESSON 14-4
Planning and Recording an
Allowance for Uncollectible
Accounts Adjustment
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
- 2. 2
ALLOWANCE METHOD OF RECORDING
LOSSES FROM UNCOLLECTIBLE ACCOUNTS
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 419
LESSON 14-4
- 3. ESTIMATING UNCOLLECTIBLE
ACCOUNTS EXPENSE
Total Sales
on Account
×
Percentage
=
$124,500.00
×
1%
=
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
3
page 420
Estimated
Uncollectible
Accounts
Expense
$1,245.00
LESSON 14-4
- 4. 4
ANALYZING AND RECORDING AN
ADJUSTMENT FOR UNCOLLECTIBLE
ACCOUNTS EXPENSE
page 421
3
1
3
2
1. Enter the estimated uncollectible
amount.
2. Enter the same amount in the
Adjustments Debit column.
3. Label the two parts with a small
letter e in parentheses.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 14-4
- 5. 5
TERMS REVIEW
page 422
uncollectible accounts
allowance method of recording losses from
uncollectible accounts
book value
book value of accounts receivable
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 14-4
- 6. 5
TERMS REVIEW
page 422
uncollectible accounts
allowance method of recording losses from
uncollectible accounts
book value
book value of accounts receivable
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 14-4