At the end of 2014, the trial balance of Bryant Paint Store included the accounts and balances shown below. Credit sales were $145,000. Returns and allowances on these sales were $2,000. Assume that the firm bases its estimate of the loss from uncollectible accounts on 0.3 percent of net credit sales. $\begin{array}{lr}
\text { Accounts Receivable } & \$ 18,000 \mathrm{Dr} \
\text { Allowance for Doubtful Accounts } & 500 \mathrm{Dr}
\end{array}$ 1. What is the estimated loss from uncollectible accounts for 2014?
2. What is the amount of the adjusting entry for the estimated loss from uncollectible accounts for 2014?

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The Answer of At the end of 2014, the trial balance of Bryant Paint Store included the accounts and balances shown below. Credit sales were $145,000. Returns and allowances on these sales were $2,000. Assume that the firm bases its estimate of the loss from uncollectible accounts on 0.3 percent of net credit sales. $\begin{array}{lr}
\text { Accounts Receivable } & \$ 18,000 \mathrm{Dr} \
\text { Allowance for Doubtful Accounts } & 500 \mathrm{Dr}
\end{array}$ 1. What is the estimated loss from uncollectible accounts for 2014?
2. What is the amount of the adjusting entry for the estimated loss from uncollectible accounts for 2014?