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Question - Jacobs Co. uses the Percentage of Credit Sales Method to estimate uncollectible accounts. Past experience indicates that about 2% of credit sales will become uncollectible. Credit sales for the current month are $400,000. The Allowance for Uncollectible Accounts already has a $3,000 credit balance. For what amount should the account be adjusted (credited)?
a. $83,000
b. $5,000
c. $8,000
d. $11,000
accounting assignmentpart one please provide clear calculations and explanations submit supporting excel file if
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