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On December 31, 20x1, certain account balances at Galaxy Company were as follows before year-end adjustments Accounts Receivable Allowance for Decollectible Accounts (credit) Sales Returns

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On December 31, 20x1, certain account balances at Galaxy Company were as follows before year-end adjustments Accounts Receivable Allowance for Decollectible Accounts (credit) Sales Returns and Allowances $ 1,863, eee 3,621 18,311,000 75,3ee Sales A further examination of the records showed that the "Sales included S1907,400 of cash sales during the year. Of the sales returns and allowances. $61,600 came from credit sales. Assume that Galaxy Company estimates its losses from uncollectible accounts to be 0.3 percent of net credit sales Required: Compute the estimated amount of Uncollectible Accounts Expense for 20X1 and prepare the journal entry to record the provision for uncollectible accounts Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Uncollect General Accounts Journal Compute the estimated amount of Uncollectible Accounts Expense for 20X1. (Round your "Estimated loss rate" to 3 decimal places, le 1.2% should be entered as 0.012.) Total sales Total credit sales Not credit sales Journal entry worksheet Record the journal entry to record the provision for uncollectible accounts. Note: Enter dette before credits Debit Credit General Journal Date Dec 31 20X1

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