Jenn cos net credit sales for the year just ended were 10, Ask an Expert

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Jenn Co.'s net credit sales for the year just ended were $10 million, its ending accounts receivable balance was $2 million, and the allowance for doubtful accounts was a debit of $100,000. If 2% of the accounts receivable are expected to be uncollectible, what is the credit balance in the allowance account after the year-end adjustment?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9974926

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