Uncollectible accounts expense is estimated to be 2 percent of net sales. Net sales for the period were $456,000 . The Allowance for Uncollectible Accounts account has a credit balance of $9,000 . The entry to record the uncollectible accounts expense is:
a. debit Allowance for Uncollectible Accounts, $120, credit Uncollectible Accounts Expense, $120.
b. debit Uncollectible Accounts Expense, $120, credit Allowance for Uncollectible Accounts, $120.
c. debit Allowance for Uncollectible Accounts, $9,120, credit Uncollectible Accounts Expense, $9,120.
d. debit Uncollectible Accounts Expense, $9,120, credit Allowance for Uncollectible Accounts, $9,120.
d
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Indicate whether the statement is true or false
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