At the end of the year, Breyer Associates had a credit balance in its allowance for uncollectible accounts of $12,000 before adjustment. The balance in Breyer's gross accounts receivable is $600,000. Breyer's management estimates that 10% of its accounts receivable balance will not be collected. What journal entry should Breyer record to adjust its allowance for uncollectible accounts

December 31, 202x, adjustment to allowance for doubtful accounts

Dr Bad debt expense 48,000

    Cr Allowance for doubtful accounts 48,000

Explanation:

total estimated bad debt = $600,000 x 10% = $60,000

allowance for doubtful accounts balance = $12,000

this account must be increased by $60,000 - $12,000 = $48,000

Allowance for doubtful accounts is a contra asset account that decreases the net balance of accounts receivable. In this case, the net balance of accounts receivable after the adjustment = $600,000 - $60,000 = $540,000

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.