Question: Question 2 Lexton Company uses the allowance method to account for uncollectible accounts receivable. At year-end, October 31, it was estimated that 0.6% of net

Question 2 Lexton Company uses the allowance method to account for uncollectible accounts receivable. At year-end, October 31, it was estimated that 0.6% of net credit sales were uncollectible based on past experience. Net sales were $690,000, of which 2/3 were on credit. Record the entry at year-end to estimate uncollectible receivables

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