Assume that part of accounts and other receivables on Thompson Toys' balance sheet if $16 million of accounts receivable and that Thompson estimates its uncollectible accounts as 2 percent of all accounts receivable. Record the adjusting entry to recognize uncollectible accounts if the Allowance for Uncollectible Accounts has a balance of: a: $104,000 credit and if the Allowance for Uncollectible Accounts has a balance of: b: $46,000 debit.
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