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22-03-2024
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Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $455,000: Allowance for Doubtful Accounts has a credit balance of $4,000; and sales for the year total $2,050,000. Bad debt expense is estimated at 1/4 of 196 of sales.
a. Determine the amount of the adjusting entry for uncollectible accounts.

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