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Business, 15.04.2020 22:48 dbhuggybearow6jng

At the end of the year, a company reports a balance in its Allowance for Uncollectible Accounts of $1,700 (debit) before any year-end adjustment. The company estimates future uncollectible accounts to be 4% of credit sales for the year. Credit sales for the year total $283,000. Record the adjustment for the allowance for uncollectible accounts using the percentage-of-credit-sales method. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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