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Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Demron estimates that 2.5% of net credit sales will

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Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Demron estimates that 2.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31 . 2020 , to estimate uncollectible receivables. b. During 2024, credit sales were $565,000 (cost of sales $370,450 ); sales discounts of $11,000 were taken when accounts recelvable of $403,300 were collected; and accounts written off during the year totalled $9.200. Prepare the entries for these transactions c. Record the adjusting entry required on December 31,2024 , to estimate uncollectible recelvables, assuming it is based on 2.5% of net credit sales. d. Show how accounts receivable would appear on the December 31,2024 , balance sheet. Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Demron estimates that 2.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31 . 2020 , to estimate uncollectible receivables. b. During 2024, credit sales were $565,000 (cost of sales $370,450 ); sales discounts of $11,000 were taken when accounts recelvable of $403,300 were collected; and accounts written off during the year totalled $9.200. Prepare the entries for these transactions c. Record the adjusting entry required on December 31,2024 , to estimate uncollectible recelvables, assuming it is based on 2.5% of net credit sales. d. Show how accounts receivable would appear on the December 31,2024 , balance sheet

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