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QUESTION
The company had an accounts receivable balance of $80,000 and an allowance for uncollectible accounts balance of $2,000 (credit) at the end of the...
The company had an accounts receivable balance of $80,000 and an allowance for uncollectible accounts balance of $2,000 (credit) at the end of the year (before any adjusting entry). The accountant determined that 10% of the ending accounts receivable balance will ultimately be uncollectible.
