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Prepare journal entry to record estimated uncollectibles

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Question - During its first year of operations, Teal Mountain Inc. had credit sales of $2,726,000, of which $366,200 remained uncollected at year-end. The credit manager estimates that $19,200 of these receivables will become uncollectible.

Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.)

Reference no: EM133132617

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