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QUESTION

Need accounting help with journal entries and gross accounts

A trial balance before adjustment included the following:

 DebitCreditAccounts receivable $156,000 Allowance for doubtful accounts  1,160Sales  $444,000Sales returns and allowances 8,200 

Give journal entries assuming that the estimate of uncollectibles is determined by taking

(1) 6% of gross accounts receivable (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

(2) 2% of net sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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