Question: need urgent help with this journal entry any help would be appreciated greatly At the end of the year, Mercy Cosmetics' balance of Allowance for
At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $540 (credin before adjustment. The balance of Accounts Receivable is $22,000. The company estimates that 12% of accounts will not be collected over the next year: What adjusting entry would Mercy Cosmetics record for Allowance for Uncollectible Accounts? (If no entry is required for a particular transoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Record the adjusting entry for Allowance for Uncollectible Accounts. Note: Enter debits before credits
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