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Question 2: Accounts Receivable A trial balance at December 31, 2020 before adjustment included the following: Debit Credit Accounts receivable $ 75,000 Allowance for doubtful
Question 2: Accounts Receivable A trial balance at December 31, 2020 before adjustment included the following: Debit Credit Accounts receivable $ 75,000 Allowance for doubtful accounts 250 Sales $ 846,000 Sales returns and allowances 4,250 Required: 1) Give journal entry assuming that the estimate of uncollectibles is determined by taking 3 % of net accounts receivable on December 31, 2020. (5 Marks)0
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