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Mulberry Co. is preparing their year-end journal entries so they can draft their financial statements. They estimate that 0.3% of net credit sales are uncollectible
Mulberry Co. is preparing their year-end journal entries so they can draft their financial statements. They estimate that 0.3% of net credit sales are uncollectible based on past experiences. Net sales for the year ended December 31, 2021 were $700,000, of which 65% were on credit. Calculate the amount of estimated uncollectible receivables at December 31, 2021.
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