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Percentage of Net Sales Method SE3. At the end of October, Santa Fe Company's management estimates the uncollect ible accounts expense to be 1 percent
Percentage of Net Sales Method SE3. At the end of October, Santa Fe Company's management estimates the uncollect ible accounts expense to be 1 percent of net sales of $1,385,000. Prepare the journal entry to record the uncollectible accounts expense, assuming the Allowance for Uncol- lectible Accounts has a debit balance of $7,000
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