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At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due = $85,000;
At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due = $85,000; estimated uncollectible = 3%. 2. Accounts 1-30 days past due = $25,000; estimated uncollectible = 20%. 3. Accounts more than 30 days past due = $5,000; estimated uncollectible = 60%. Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $830 (credit). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Event Debit Credit General Journal Bad Debt Expense Allowance for Uncollectible Accounts
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