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  3. 2. at the end of the current year, a company has a

2. At the end of the current year, a company has Accounts Receivable of $189,000...

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Accounting

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2. At the end of the current year, a company has Accounts Receivable of $189,000 and an Allowance for Bad Debt with a credit balance of $2,000. The company uses the analysis of receivables method to estimate the Allowance for Bad Debt, which estimated 10% of the total receivables as uncollectible. Journalize the needed adjusting entry for uncollectible accounts: (5 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity

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