What is the adjusting entry mercy cosmetics would record

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At the end of the year, Mercy Cosmetics has a balance in its allowance for uncollectible accounts of $580 (credit) before adjusting entries. The balance of accounts receivable is $21,900. The company estimates that 16% of accounts will not be collected over the next year.

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What is the adjusting entry Mercy Cosmetics would record for the allowance for uncollectible accounts?

Reference no: EM13143727

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