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At the end of 2024, Murray State Lenders had a balance in its Allowance for...

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Accounting

At the end of 2024, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts of $10,000 (credit) before adjustment. The company estimated its future uncollectible accounts to be $15,000 using the percentage-of-receivables method. Murray State's adjusting entry, dated December 31, 2024, to record its estimated uncollectible accounts included a:

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