Question: The Allowance for Doubtful Accounts has been based on a 2% uncollectible rate for several years, including Year 5 and Year 4. However, further analysis

The Allowance for Doubtful Accounts has been based on a 2% uncollectible rate for several years, including Year 5 and Year 4. However, further analysis of the 12/31 Year 4 Accounts Receivable revealed that 2.2% of those receivables were not collected. Faubert chose to again use the 2% rate to determine the 12/31 Year 5 Allowance account, believing that 2% is the most representative rate for the uncollectible account balance at that date.

REQUIRED 1.

Correcting journal entries, if applicable, for items a. through j. If no correcting journal entry is needed, indicate "No CJE."

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