Prepare adjusting entries based on the following data (a) Shawn Mendes determined that one percent of sales will become uncollectible. (b) Depreciation is computed using the straight-line method, with a ten-year life and $5,000 salvage value. (c) Salesmen are paid commissions of 15% of sales. Commissions on sales for December have not been paid. (d) The note was issued on October 1, bearing interest at 8%, due Feb. 1, 2026. (e) A physical inventory of supplies indicated $440 of supplies currently in stock. (f) Provisions of a lease contract for the rental of office space specify payments must be made one month in advance, with monthly payments at $800/mo. This provision has been complied with as of Dec. 31, 2025.

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Based on the given data the following adjusting entries should be made a Uncollectible Accounts Expe... View the full answer