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Prepare the necessary journal entry at the end of the year

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Problem - Brown Corp. ended the year with balances in Accounts Receivable of $60,000 and in Allowance for Doubtful Accounts of $800 (credit balance before adjustment). Net sales for the year amounted to $200,000. Prepare the necessary journal entry at the end of the year assuming:

a. Estimated percentage of net sales uncollectible is 1%.

b. Estimated percentage of year-end accounts receivable uncollectible is 4%.

Reference no: EM132852716

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