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1) Kingston uses the percentage-of-receivables basis to record bad debt expenseIt estimates that 1% of accounts receivable will become uncollectible. Accounts receivable are $420,000 at
1) Kingston uses the percentage-of-receivables basis to record bad debt expenseIt estimates that 1% of accounts receivable will become uncollectible. Accounts receivable are \$420,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,500.
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