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22. Suppose a company's credit department, using the percent-of-sales method, estimates its uncollectible-account expense to be $73 million. What is the entry to record uncollectible-

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22. Suppose a company's credit department, using the percent-of-sales method, estimates its uncollectible-account expense to be $73 million. What is the entry to record uncollectible- account expense for the year? 24. Suppose a company's credit department, using the aging-of-receivables method, estimates its uncollectible-account expense to be $76 million. What is the entry to record uncollectible account expense for the year? 25. Under the allowance method, a write-off of uncollectibles has no effect on total assets, current asset, net accounts receivables, or net income. True or false

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