Business
Business, 20.04.2020 21:31, kayleerose414

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.
Required:
Prepare the necessary journal entry by selecting the account names and entering the dollar amounts in the debit or credit columns.

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Answers: 1

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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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