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Brief Exercise 5-23 (Algo) Determine financial statement effects of allowing for uncollectible accounts (LO5-3) Nithe end of the first year of operatons, Mayberry Advortising had

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Brief Exercise 5-23 (Algo) Determine financial statement effects of allowing for uncollectible accounts (LO5-3) Nithe end of the first year of operatons, Mayberry Advortising had accounts receivable of $25,000. Manegement of the company estinutes that 10% of the accounts will not be colected. Determine the financial statement effects of the adjusting entry to afow for uncollectble accounts. (Amounts to be deducted should be entered with minus sign)

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