Movie Set Up Company's trial balance before adjustment included the following information: Prepare journal entries assuming that the estimate of uncollectibles is determined by taking:
1) 3.5% of gross accounts receivable
2) 0.5% of net sales.

Question

Movie Set Up Company's trial balance before adjustment included the following information:  Prepare journal entries assuming that the estimate of uncollectibles is determined by taking:
1) 3.5% of gross accounts receivable
2) 0.5% of net sales.

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The Answer of Movie Set Up Company's trial balance before adjustment included the following information:  Prepare journal entries assuming that the estimate of uncollectibles is determined by taking:
1) 3.5% of gross accounts receivable
2) 0.5% of net sales.

Movie Set Up Company's Trial Balance Before Adjustment Included the Following