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Before any adjustments, Frost Company had an end of the year accounts receivable balance of $125,000 and the allowance for uncollectible accounts had a $300

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Before any adjustments, Frost Company had an end of the year accounts receivable balance of $125,000 and the allowance for uncollectible accounts had a $300 credit balance. An analysis of accounts receivable determines that the allowance for uncollectible accounts should be 5% of accounts receivable. The adjusting entry would include a credit to Allowance for Uncollectible Accounts of: CA $6,550 $5,950 c56,250 $5,750

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