my assignment question No 3 need help to solve it
The ; income statement approach to ; estimating uncollectible ; accounts expense is used by Burgess Wholesale. On March 31 the firm had accounts receivable in ; the ; amount ; of ; Rs.6301000. The ; allowance for doubtful accounts had ; a ; credit balance of ; Rs.3,950. ; The ; controller estimated that uncollectible ; account expense would amount to one half of 1°/o of the net sales made during March. This estimate was entered in the accounts.
b)! an adjusting entry on March 31.
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On April12, an account receivable from ; Conrad Stern of Rs.J,110 was determined to be worthless and was written off.However, on April24, Stern won several thousand dollars on a TV games how and immediately paid the Rs.3,110 past due account. Prepare journal entries to record the above events.