What is the settlement entry

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Reference no: EM132774374

Problem 1: A company apply an indirect depreciation method to trade receivables management. They believe that the Percentage of Sales Method approach suits them well. In the year 2020, it was sold in cash for ISK 700,000. and into an account for ISK 2,500,000. When processing annual results, it is estimated that 1% of sales will not be collected. What is the settlement entry?

Reference no: EM132774374

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