During its first year of operations, won Sport, Inc ha sales of 40 000 all...
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During its first year of operations, won Sport, Inc ha sales of 40 000 all account industry experience su $58,000. The company uses the allowance method to account for uncollectbles. ests that Spor s uncoll i es w ill amoun to % of credit sales. At December 3 accounts re e able t 1. Make World Sport's journal entry for uncollectible-account expense using the percent-of-sales method 2. Show how World Sport should report accounts eceivable on its balance sheet at December 31, 2018. 1. Make world Sport's journal entry for uncollectible-account expense using the percent-of-sales method. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec 31 2. Show how World Sport should report accounts receivable on its balance sheet at December 31, 2018. Less
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