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14 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance: Gross Accounts receivable $200,000. 2% of net credit sales $2,500 before the

14 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance: Gross Accounts receivable $200,000. 2% of net credit sales $2,500 before the estimate was made $60,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales method

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