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Weylie's Wildflowers uses the percentage of credit sales method to estimate bad debt expense. Weylie...

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Accounting

Weylie's Wildflowers uses the percentage of credit sales method to estimate bad debt expense. Weylie records credit sales of $500,000 for the current year, and estimates 5% of sales will be uncollectible.

Record the journal entries for the following transactions:

A customer informs Weylie that they will be unable to pay their $500 debt.

Dr. ? ?

Cr. ? ?

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