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7. X Company estimates thet 2% of its sales on account for the year ended December 31, 2004 will be uncollectible. If the total sales

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7. X Company estimates thet 2% of its sales on account for the year ended December 31, 2004 will be uncollectible. If the total sales is $4,500,000 and 20% in cases, the adjusting entry for the December 31, 200A will include Accounts Receivable $90,000 Allowance for Bad Debts $72.000 Bad Debts Expense $ 18,000 An adjusting entry is not necessary

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