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Problem - Brown Corp. ended the year with balances in Accounts Receivable of $60,000 and in Allowance for Doubtful Accounts of $800 (credit balance before adjustment). Net sales for the year amounted to $200,000. Prepare the necessary journal entry at the end of the year assuming:
a. Estimated percentage of net sales uncollectible is 1%.
b. Estimated percentage of year-end accounts receivable uncollectible is 4%.
What is the purpose of a payroll register? Why is it important to pay attention to rounding in completing payroll calculations? Give an example
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