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Assume a company utes the allowance method to estimate their uncollectible accounts receivable. During 2020 , the company had net credit sales of $300,000. The

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Assume a company utes the allowance method to estimate their uncollectible accounts receivable. During 2020 , the company had net credit sales of $300,000. The ending balance in Accounts Receivable for 2020 is $20,500 and the Allowance for Uncollectible Accountes has a normal balance of $2.000 prior to any adjusting entries. Assume the company uses the percent of sales method and estimates it will be unable to collect 2% of net credit sales. The adjusting entry to estimate uncollectible accounts at year-end includes a: Credit to Acoounts Recevable of 56,000 . Credit to Alfowance for Uncollectible Accourts of 56,000 Credit to Accounts Recetvable of $4,000 Credit to Allowance for Uacolloctible Accounts of $4,000 Marathon incorporated uses the allowance method to estimote their uncollectible accounts receivable. During 2019, Marathon Incorporated had net credit sales of \$285.800. The ending balance in Accounts Receivable for 2019 is $26,500 and the Allowance for Uncollectible Accounts has a normal balance of \$2,400 prior to any adjusting entries. Assume Marathon Incorporated uses the aging of receivables method and estimotes they will be unable to collect $4,500 of Accounts Receivable. What is the adjusting entry to estimate uncollectible accounts at year-end? Dr Uncollectible Account Expense 4,500; Cr Accounts Receivable 4,500 Dr Uncollectible Account Expense 2,400; Cr Allowance for Uncollectible Accounts 2.400 Dr. Uncollectible Account Expense 2,100, Cr Allowance for Uncollectible Accounts 2,100 Dr Uncollectible Account Expense 4,500; Cr Allowance for Uncolfectible Accounts 4,500

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