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During its first year of operations, a company has credit sales of $450,000 and cash sales of $175,000. By the end of the year,
During its first year of operations, a company has credit sales of $450,000 and cash sales of $175,000. By the end of the year, cash collections on credit sales total $230,000, and the company estimates uncollectible accounts to be 5% of accounts receivable. The amount to record for the year-end adjusting entry for uncollectible accounts would be: O $31,250. O $11,000. O $19,750. O $22,500. O There is not enough information to answer the question.
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