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Q: 12. firm reported sales of $300,000 during the year and has a balance of $20,000 in its Accounts Receivable account at year-end. Prior to adjustment, Allowance for Doubtful Accounts has a credit
balance of $300. The firm estimated its losses from uncollectible accounts to be one-half of 1 percent of sales. The entry to record the estimated losses from uncollectible accounts will include a credit to Allowance for Doubtful Accounts for (Points : 5) $1,500. $3,000. $1,200. $1,800.
A: $1,500
marrenosi|Points 48|
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Asked 10/20/2012 8:43:39 PM
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