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The following information is from the 2015 records of armadillo camera shops. ( provide an organized explanation of the answer)accounts receivable, december 31, 2015 $330,000 (debit)allowance for uncollectible accounts, january 1, 2015 30,000 (credit)net sales for 2015 1,500,000accounts written off as uncollectible during 2015 25,500 uncollectible accounts expense is estimated by the percent-of-sales method. management estimates that 2% of net sales are uncollectible. which of the following will be the 12/31/15 balance in the allowance for uncollectible accounts? a) $25,500 b) $30,000 c) $34,500 d) $30,500
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The following information is from the 2015 records of armadillo camera shops. ( provide an organized...
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