At the end of the year a company reports a balance in its, Financial Accounting

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At the end of the year a company reports a balance in its

At the end of the year a company reports a balance in its allowance for uncolletible accounts of $1,400 (credit) before any year-end adjustment. The company esitmates future uncollectible accounts to be 4% of creid sales for the year. Credit sales for the year total $289,000

Record the adjustment for the allowance for uncollectible accounts using the percentage of credit sale method.

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Financial Accounting: At the end of the year a company reports a balance in its

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