At the end of the year, Simone Enterprises estimates the uncollectible accounts expense to be .7 percent

Question:

At the end of the year, Simone Enterprises estimates the uncollectible accounts expense to be .7 percent of net sales of $30,300,000. The current credit balance of Allowance for Uncollectible Accounts is $51,600. Prepare the entry in journal form to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after each of these adjustments? E-6

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