ACC 205 Week 2 Exercise 9 Direct write-off and allowance methods matching approachDirect write-off and allowance methods: matching approach. The December 31, 20X2, year-end trial balance of Targa Company revealed the following account information:DebitsCreditsAccounts Receivable$252,000Allowance for Uncollectible Accounts$ 3,000Sales855,000InstructionsDetermine the adjusting entry for bad debts under each of the following conditions:(1) An aging schedule indicates that $12,420 of accounts receivable will be uncollectible.(2) Uncollectible accounts are estimated at 2% of net sales.On January 19, 20X3, Targa learned that House Company, a customer, had declared bankruptcy. Present the proper entry to write off House’s $950 balance using the allowance method.Repeat the requirement in part (b), using the direct write-off method.In light of the House bankruptcy, examine the allowance and direct write-off methods in terms of their ability to properly match revenues and expenses. Follow this link to get a similar paper written from scratchPlace an order for this assignment or any other paper with us. We guarantee that the paper will be delivered within the specified deadline. We also have a personalized customer support and you will be able to communicate with your writer throughout the order preparation process. Thank you for choosing us.
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