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Business, 04.11.2021 20:50 4waymari

During its first year of operations, Indigo Corporation had credit sales of $2,920,500, of which $350,000 remained uncollected at year-end. The credit manager estimates that $17,000 of these receivables will become uncollectible. (a) Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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