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The general ledger account for Accounts Receivable shows a debit balance of $50,000. The Allowance for Uncollectible Accounts has a credit balance of$1,000. Net sales
The general ledger account for Accounts Receivable shows a debit balance of $50,000. The Allowance for Uncollectible Accounts has a credit balance of$1,000. Net sales for the year were $500,000. In the past, 2 percent of sales has proved uncollectible. Using the percentage of net sales method, Uncollectible Accounts Expense would be debited for 1,000 10,000 11,000 9,000
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