Business, 31.07.2019 21:10 lakeshia8880

On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $75,200 and $3,800, respectively. during the year kincaid reported $211,000 of credit sales. kincaid wrote off $2,050 of receivables as uncollectible in year 2. cash collections of receivables amounted to $264,300. kincaid estimates that it will be unable to collect one percent (1%) of credit sales. kincaid's entry to recognize the write-off of the uncollectible accounts will:

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On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts...