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Prepare the journal entry to record estimated uncollectibles

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Problem 1: During its first year of operations, Henley Company had credit sales of $3,000,000; $600,000 remained uncollected at year-end. The credit manager estimates that $35,000 of these receivables will become uncollectible. Prepare the journal entry to record the estimated uncollectibles.

Reference no: EM132742240

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