Question: At the end of the year Molly Enterprises estimates the
At the end of the year, Molly Enterprises estimates the uncollectible accounts expense to be 0.8 percent of net sales of $3,787,500. The current credit balance of Allowance for Uncollectible Accounts is $6,450. Prepare a journal entry to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after this adjustment?
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