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8. ABC Company's account balances at December 31 for Accounts Receivable and Allowance for Doubtful Accounts were $1,400,000 and $70,000 (Cr.), respectively. An aging of

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8. ABC Company's account balances at December 31 for Accounts Receivable and Allowance for Doubtful Accounts were $1,400,000 and $70,000 (Cr.), respectively. An aging of accounts receivable indicated that $118,000 are expected to become uncollectible. The amount of the adjusting entry for bad debts at December 31 is (2 Points) $188,000 $70,000 $48,000. $118,000

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