Question: Prepare the Journal Entry for the given information: Re-estimate that the furniture is expected to have only a 4 year total UL , with no

Prepare the Journal Entry for the given information:

Re-estimate that the furniture is expected to have only a 4 year total UL , with no salvage value. Physical count shows 4% of all discs are missing or useless (current replacement cost is $25 if Flower Co. were to buy) Estimate 5% accounts receivable are uncollectible & income tax rate is 30%. Year end CS MV = $20

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