On December 31, 2014, the Landon Corporation estimated that 3% of its credit sales of $215,000 would be uncollectible. Landon used the allowance method of accounting for uncollectible accounts. On February 15, 2015, Landon wrote off the account of one of its customers, in the amount of $2,500. On April 7, 2015, the customer paid the account in full.
Which of the following answers correctly shows the effect of the December 31, 2014 adjusting entry for uncollectible accounts on the financial statements of the Landon Corporation?

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The Answer of On December 31, 2014, the Landon Corporation estimated that 3% of its credit sales of $215,000 would be uncollectible. Landon used the allowance method of accounting for uncollectible accounts. On February 15, 2015, Landon wrote off the account of one of its customers, in the amount of $2,500. On April 7, 2015, the customer paid the account in full.
Which of the following answers correctly shows the effect of the December 31, 2014 adjusting entry for uncollectible accounts on the financial statements of the Landon Corporation?

On December 31, 2014, the Landon Corporation Estimated That 3