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At December 31, Gill Co reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjusting entry for uncollectible accounts would be:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414210

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