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J ail Accounts Receivable balance , Il gone bankrupt and will not be making any fiuture payments, Assuming you use the allowance method, the entry

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J ail Accounts Receivable balance , Il gone bankrupt and will not be making any fiuture payments, Assuming you use the allowance method, the entry you make is to debit Allowance for Uncollectible Accounts and credit Accounts Rceivable. debit Uncollectible Accounts Expense and credit Accounts Receivable. C) debit Allo wance for Uncollectible Accounts and credit Unicoletible Accounts Expense. D) debit Uncollectible Accounts Expense and credit Allowance for Uncollectible Accounts. Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be 54,000. If the balance in Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment? A) $18,000 B) $54,000 C) $72,000 D) $38,000 Page 1

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