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A company has $286,000 in credit sales. The company uses the allowance method to account for ...

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A company has $286,000 in credit sales. The company uses the allowance method to account for ...

A company has $286,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $2,280 credit balance. If the company estimates that $7,640 of accounts will be uncollectible based on an aging of Accounts Receivable, what will be the amount of the journal entry to record estimated uncollectible accounts?
A) $7,640
B) $9,920
C) $4,560
D) $5,360

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Financial Accounting

Edition: 3^rd

Authors: Kemp, Waybright

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