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What amount should the account be adjusted

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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

Reference no: EM132642577

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