Caplan Corporation uses the accounts receivable aging method to account for Uncollectible Accounts Expense.As of December 31,Caplan's accountant prepared the following data about ending receivables: $20,000 was not yet due (1 percent expected not to be collected),$10,000 was 1-60 days past due (4 percent expected not to be collected),and $2,000 was over 60 days past due (8 percent expected not to be collected).At December 31,Allowance for Uncollectible Accounts had a credit balance prior to adjustment of $200.In the journal provided,prepare Caplan's end-of-period adjustment for estimated uncollectible accounts.Also prepare the entry that would have been made had the credit balance instead been a debit balance.Omit explanations.

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The Answer of Caplan Corporation uses the accounts receivable aging method to account for Uncollectible Accounts Expense.As of December 31,Caplan's accountant prepared the following data about ending receivables: $20,000 was not yet due (1 percent expected not to be collected),$10,000 was 1-60 days past due (4 percent expected not to be collected),and $2,000 was over 60 days past due (8 percent expected not to be collected).At December 31,Allowance for Uncollectible Accounts had a credit balance prior to adjustment of $200.In the journal provided,prepare Caplan's end-of-period adjustment for estimated uncollectible accounts.Also prepare the entry that would have been made had the credit balance instead been a debit balance.Omit explanations.

Caplan Corporation Uses the Accounts Receivable Aging Method to Account