At the end of the first year of operations, Mayberry Advertising had accounts receivable of...
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Accounting
At the end of the first year of operations, Mayberry Advertising had accounts receivable of $21,600. Management of the company estimates that 8% of the accounts will not be collected.
What adjustment would Mayberry Advertising record to establish Allowance for Uncollectible Accounts? (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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