accounts expense is used by Burgess Wholesale. On March 31 the firm had accounts
Rs.6301000. The allowance
of Rs.3,950. The
estimated that uncollectible account expense would amount to one half of 1°/o of the
in the accounts.
b)! an adjusting entry
on March 31.
On April12, an account receivable from Conrad Stern of Rs.J,110 was determined to be worthless and was written off.However, on April24, Stern won several thousand dollars on a TV games how and immediately paid the Rs.3,110 past due account.Prepare journal entries to record the above events.