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A company began operations on January 1 , 2 0 2 4 . During its first year, the company completed a number of transactions involving
A company began operations on January During its first year, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows:
Sold $ of merchandise that had cost $ on credit, terms n
Wrote off $ of uncollectible accounts receivable.
Received $ cash in payment of accounts receivable.
In adjusting the accounts on December the company estimated that of accounts receivable will be uncollectible.
What is the amount required for the adjusting journal entry to record bad debt expense?
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