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Prepare the journal entries on december and may

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On December 31, 2012, Merriman Co. estimated that 2% of its net sales of $600,000 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2013, Merriman Co. determined that Larry Bird's account was uncollectible and wrote off $2,500. On June 12, 2013, Bird paid the amount previously written off.

Instructions

Problem 1: Prepare the journal entries on December 31, 2012, May 11, 2013, and June 12, 2013.

Reference no: EM132830021

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