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Assume Linus Lions decides to use the percentage of sales basis. It concludes that 1% of net credit sales will become uncollectible. If net credit

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Assume Linus Lions decides to use the percentage of sales basis. It concludes that 1% of net credit sales will become uncollectible. If net credit sales for the calendar year 2011 are $170,000, the estimated bad debts expense would be: _and the journal entry would be: [3 Marks] Account Title Debit Credit

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