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A trial balance before adjustment included the following: REQUIRED: Prepare year-end adjusting journal entries assuming that the estimate of uncollectible accounts is determined by taking:

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A trial balance before adjustment included the following: REQUIRED: Prepare year-end adjusting journal entries assuming that the estimate of uncollectible accounts is determined by taking: (1) 5% of gross accounts receivable, (2) 3% of gross accounts receivable (assuming a $730 debit allowance account balance)

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