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The Miller Company earned $133,000 of revenue on account during Year 1. There was no...

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Accounting

The Miller Company earned $133,000 of revenue on account during Year 1. There was no beginning balance in the accounts receivable and allowance accounts. During Year 1, Miller collected $87,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account.

What is the amount of uncollectible accounts expense that will be recognized on the Year 1 income statement?

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