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Business, 10.03.2020 23:00 mandy9386

Cosmo Company reported credit sales of $345,000 for the calendar year in its first year of operations. At December 31, customers buying on credit owed $35,000 to the company. Based on the experience of similar businesses, management estimates that $3,500 of its accounts receivable will be uncollectible. Prepare the necessary December 31 adjusting entry by selecting the account names and dollar amounts from the drop-down menus.

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Cosmo Company reported credit sales of $345,000 for the calendar year in its first year of operation...
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