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Business, 19.03.2021 18:40 leo3131t

Triple Tier Bakery is a locally-owned business offering custom cakes, cupcakes, desserts and wedding cakes. At year end, Triple Tier's balance of Allowance for Uncollectible Accounts is $550 (credit) before adjustment. The Accounts Receivable balance is $22,500. During the next year, Triple Tier estimates that 10% of accounts will be uncollectible. Required:
Record the adjustment required for Allowance for Uncollectible Accounts?

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