What year end adjusting entry should be made
The allowance for uncollectible accounts had a balance of $1,400 on January 1 at the beginning of the year. During the year, bad debts of $750 were written off. What year end adjusting entry should be made?
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Big Bear Company deals in distressed properties and makes high-risk sales. In 2012, the company sold for $250,000 a piece of property that cost $150,000.
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