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During its first year of operations, Precious Gems Collection earned net credit sales of $371,000. Industry experience suggests that bad debts wil amount to 3%

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During its first year of operations, Precious Gems Collection earned net credit sales of $371,000. Industry experience suggests that bad debts wil amount to 3% of net credit sales At December 31 2024, acoounts recelvable total $38,000. The compary uses the allowance method to account for uncollectibles. Read the requirements

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