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At the end of the current year ( before adjusting entries ) , Apple Corporation had a balance of $ 7 6 , 0 0

At the end of the current year (before adjusting entries), Apple Corporation had a balance of $76,000 in Accounts Receivable and a credit balance of $11,000 in Allowance for
Uncollectible Accounts. Service revenue (all on credit) for the year totaled $470,000.
Read the requirements.
Requirement 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Apple Corporation estimates its uncollectible-account expense using a
rate of 5% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?
Apple Corporation has
of uncollectible-account expense using the percent-of-sales method. The ending
balance of the Allowance for Uncollectible Accounts is
under this scenario.
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