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Bigg and Talle Corporation uses the percentage-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $5,000,000 and management estimates 2% will be uncollectible. Allowance for Doubtful Accounts prior to adjustment has a credit balance of $16,000. After all necessary adjusting entries are made, what the balance in Allowance for Uncollectible Accounts will be:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M977984

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