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Knowledge Check 01 Manning Company uses the allowance method. At the end of its first...

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Accounting

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Knowledge Check 01 Manning Company uses the allowance method. At the end of its first year of operations, the company estimates that it will not collect $2,500 of its accounts receivable. Prepare the appropriate adjusting journal entry to establish the estimate for uncollectible accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the $2,500 estimate of accounts receivable that will not be collected. Note: Enter debits before credits. Event General Journal Debit Credit 01 Record entry Clear entry View general journal

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