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5 2020 Net credit sales Allowance account credit balance Estimate of doubtful debts Gross Accounts receivable $100,000. 2% of net credit sales $1,800 before the

5 2020 Net credit sales Allowance account credit balance Estimate of doubtful debts Gross Accounts receivable $100,000. 2% of net credit sales $1,800 before the estimate was made $40,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales method

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