Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required:...
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Accounting
Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Required: a. Assume that Demron estimates uncollectible accounts as 2.5% of receivables. Prepare the adjusting entry 2023, to estimate uncollectible recelvables. Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits. b. During 2024, credit sales were $740,000 (cost of sales $185,200 ); sales discounts taken were $18,000; accounts receivable collected were $660,200; and accounts wilten off during the year totalled $14,800. Prepare the entries to record these transa Journal entry worksheet Record the credit sales during 2024. Wost Ther aeties betore credrs
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