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a) What is the amount of estimated uncollectibles to be recorded in the adjusting entry? b) What is the amount to be recorded in the
a) What is the amount of estimated uncollectibles to be recorded in the adjusting entry?
b) What is the amount to be recorded in the write-off entry?
c) What is the amount of cash to be debited in the recovery entry?
ABC Company uses the percentage of receivables basis to estimate uncollectibles. Below are information related to the Company: Sales Revenue Sales Return and Allowances Sales Discounts Accounts Receivable AFDA (debit balance) Credit Sales Uncollectible % $135,000 25,000 5,000 45.000 2,000 80% 10% On March 1, the Company wrote-off $230 of a customer account. On May 10, the Company collected fifty percent of the amount previously written-off. What is the amount of estimated uncollectibles to be recorded in the adjusting entry? * Your answer 0 This is a required question What is the amount to be recorded in the write-off entry? * Your answer 0 This is a required question What is the amount of cash to be debited in the recovery entry? *Step by Step Solution
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