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Wolfe, Inc. had credit sales for the period of $144,000. The balance in Allowance for Doubtful Accounts is a debit of $653. If Wolfe estimates

Wolfe, Inc. had credit sales for the period of $144,000.

The balance in Allowance for Doubtful Accounts is a debit of $653.

If Wolfe estimates that 2% of credit sales will be uncollectible, what is the required journal entry to record estimated uncollectible accounts

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