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Brief Exercise 5-24 (Algo) Determine financial statement effects of writing off uncollectible accounts (LO54)At the...

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Brief Exercise 5-24 (Algo) Determine financial statement effects of writing off uncollectible accounts (LO54)At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $15,500. By the end of the year, actual bad debts total $17,500

At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $15,500. By the end of the year, actual bad debts total $17,500.

Determine the financial statement effects of writing off an uncollectible account. (Amounts to be deducted should be entered with minus sign.)

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