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Prepare the journal entries for the following transactions: Sold wigits for $1,000 on account; cost of merchandise is $600 Estimated 1.5% of credit sales to

Prepare the journal entries for the following transactions:
1. Sold wigits for $1,000 on account; cost of merchandise is $600
2. Estimated 1.5% of credit sales to be uncollectible.
3. Determined customer owing $200 is worthless and uncollectible.

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