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Assume that you have a company. And the management team estimates that 3% of sales will...

Assume that you have a company. And the management team estimates that 3% of sales will be uncollectible.

Give any amount of sales and prepare the journal entry using the percent of sales method. (1Mark)

I know that the answer is existed in Chegg. However, I want a different and a unique answer and I want it simple to understand. Please use your OWN words.

Thank you.

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