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The following information is obtained from the accounts of Zero Company at year end: Debit Credit Sales Revenue $610,000 Sales Returns and Allowances $8,000 Accounts
The following information is obtained from the accounts of Zero Company at year end: Debit Credit Sales Revenue $610,000 Sales Returns and Allowances $8,000 Accounts Receivable 140,000 Allowance for Doubtful Accounts 730 Required: Prepare year end adjusting entries assuming that the estimate of uncollectible accounts is determined by: 5% of gross Accounts Receivable
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