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At the end of the year, Mercy Cosmetics’ balance of Allowance for Uncollectible Accounts is $720 (debit) before adjustment. The balance of Accounts Receivable is $26,200. The company estimates that 12% of accounts will not be collected over the next year.
What is the adjustment Mercy Cosmetics would record for Allowance for Uncollectible Accounts?
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At the end of the year, Mercy Cosmetics’ balance of Allowance for Uncollectible Accounts is $720 (de...
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